General Motors (NYSE:GM) Price Target Raised to $96.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Citigroup from $95.00 to $96.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the auto manufacturer’s stock. Citigroup’s target price points to a potential upside of 113.00% from the company’s current price.

Several other brokerages have also commented on GM. Morgan Stanley boosted their target price on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday. Barclays lifted their price target on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Finally, Piper Sandler lifted their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $54.35.

General Motors Stock Performance

NYSE:GM traded down $0.03 during midday trading on Wednesday, reaching $45.07. The stock had a trading volume of 9,602,943 shares, compared to its average volume of 17,486,021. The firm has a fifty day simple moving average of $41.86 and a two-hundred day simple moving average of $36.06. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The stock has a market cap of $52.03 billion, a P/E ratio of 6.17, a P/E/G ratio of 0.51 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the firm posted $2.21 EPS. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that General Motors will post 9.12 EPS for the current year.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors news, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of GM. Unison Advisors LLC raised its position in shares of General Motors by 0.4% in the 1st quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock valued at $3,047,000 after purchasing an additional 246 shares in the last quarter. Janiczek Wealth Management LLC raised its position in shares of General Motors by 5.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 248 shares in the last quarter. FinTrust Capital Advisors LLC raised its position in shares of General Motors by 2.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock valued at $399,000 after acquiring an additional 268 shares in the last quarter. Summit Financial LLC raised its position in shares of General Motors by 4.3% during the 4th quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock valued at $239,000 after acquiring an additional 273 shares in the last quarter. Finally, Sutton Place Investors LLC raised its position in shares of General Motors by 1.7% during the 1st quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer’s stock valued at $782,000 after acquiring an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.