General Motors (NYSE:GM) (TSE:GMM.U) had its target price dropped by stock analysts at Morgan Stanley from $50.00 to $46.00 in a research note issued to investors on Friday, Marketbeat reports. The firm currently has an “overweight” rating on the auto manufacturer’s stock. Morgan Stanley’s target price would suggest a potential upside of 26.44% from the stock’s current price.

Other analysts have also issued research reports about the company. Citigroup cut their target price on General Motors to $60.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. JPMorgan Chase & Co. cut their target price on General Motors from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Royal Bank of Canada boosted their target price on General Motors from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. Piper Jaffray Companies set a $57.00 target price on General Motors and gave the company an “overweight” rating in a research report on Tuesday, May 15th. Finally, ValuEngine lowered General Motors from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.02.

Shares of NYSE GM opened at $36.38 on Friday. The company has a market capitalization of $51.62 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 0.75 and a beta of 1.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.74 and a current ratio of 0.88. General Motors has a 52-week low of $34.50 and a 52-week high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. The company had revenue of $36.80 billion for the quarter, compared to analyst estimates of $36.62 billion. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 earnings per share. analysts predict that General Motors will post 6 earnings per share for the current fiscal year.

In other news, EVP Alan S. Batey sold 215,685 shares of the company’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $43.01, for a total transaction of $9,276,611.85. Following the sale, the executive vice president now owns 84,594 shares of the company’s stock, valued at $3,638,387.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Andra AP fonden acquired a new position in shares of General Motors during the second quarter worth $3,704,000. Schroder Investment Management Group grew its stake in shares of General Motors by 8.7% during the second quarter. Schroder Investment Management Group now owns 658,558 shares of the auto manufacturer’s stock worth $26,685,000 after purchasing an additional 52,547 shares in the last quarter. Global X Management Co LLC grew its stake in shares of General Motors by 99.6% during the second quarter. Global X Management Co LLC now owns 65,156 shares of the auto manufacturer’s stock worth $2,567,000 after purchasing an additional 32,515 shares in the last quarter. Argent Trust Co acquired a new position in shares of General Motors during the second quarter worth $1,700,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of General Motors during the second quarter worth $115,000. Hedge funds and other institutional investors own 73.01% of the company’s stock.

About General Motors

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Featured Article: Trading Strategy Examples and Plans

Analyst Recommendations for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.