Brokerages Set General Motors (NYSE:GM) Target Price at $68.23

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have received an average rating of “Buy” from the twenty-three research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $67.95.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of General Motors from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, June 4th. Bank of America raised their price objective on shares of General Motors from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, July 16th. Wells Fargo & Company reduced their price target on shares of General Motors from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, September 10th. Argus lifted their price target on shares of General Motors from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Finally, Tudor Pickering initiated coverage on shares of General Motors in a research report on Tuesday, May 18th. They issued a “buy” rating and a $76.00 price target for the company.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC bought a new stake in General Motors during the 2nd quarter valued at $25,000. Accel Wealth Management raised its holdings in shares of General Motors by 1,510.3% during the second quarter. Accel Wealth Management now owns 467 shares of the auto manufacturer’s stock valued at $28,000 after acquiring an additional 438 shares during the last quarter. Godsey & Gibb Associates acquired a new stake in shares of General Motors in the first quarter valued at approximately $29,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of General Motors in the first quarter valued at approximately $29,000. Finally, Aspire Private Capital LLC grew its position in General Motors by 484.7% in the first quarter. Aspire Private Capital LLC now owns 497 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 412 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

General Motors stock opened at $50.74 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 1.10. General Motors has a 52-week low of $28.24 and a 52-week high of $64.30. The firm has a 50 day moving average price of $53.10 and a two-hundred day moving average price of $56.38. The firm has a market cap of $73.66 billion, a price-to-earnings ratio of 5.87, a PEG ratio of 0.81 and a beta of 1.28.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, August 4th. The auto manufacturer reported $1.97 EPS for the quarter, topping the consensus estimate of $1.89 by $0.08. The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $29.66 billion. General Motors had a net margin of 9.13% and a return on equity of 25.11%. The company’s quarterly revenue was up 103.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.50) EPS. As a group, equities research analysts predict that General Motors will post 6.2 EPS for the current fiscal year.

General Motors Company Profile

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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Analyst Recommendations for General Motors (NYSE:GM)

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