Barclays Boosts General Motors (NYSE:GM) Price Target to $60.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price lifted by equities researchers at Barclays from $55.00 to $60.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the auto manufacturer’s stock. Barclays‘s price target indicates a potential upside of 30.89% from the company’s previous close.

GM has been the topic of several other reports. Tigress Financial boosted their target price on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft upped their price objective on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Wells Fargo & Company raised their target price on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Moderate Buy” and an average price target of $54.65.

General Motors Stock Performance

Shares of General Motors stock opened at $45.84 on Friday. The business’s 50 day moving average price is $42.27 and its 200 day moving average price is $36.32. The company has a market cap of $52.30 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.53 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. General Motors has a one year low of $26.30 and a one year high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. On average, research analysts predict that General Motors will post 9.45 EPS for the current year.

Insider Buying and Selling

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’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 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 SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of General Motors in the 4th quarter valued at about $602,280,000. Acadian Asset Management LLC boosted its holdings in General Motors by 454.3% in the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after purchasing an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares during the last quarter. Putnam Investments LLC raised its holdings in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of General Motors by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after buying an additional 2,049,412 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Company Profile

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.