General Motors (GM) Stock Rating Upgraded by Zacks Investment Research
General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “General Motors outperformed the industry it belongs to over the last six months. The company’s capital allocation strategy, initiatives to make its vehicles more advanced, safer and fuel efficient and focus on technology development are likely to benefit. Moreover, the company's focus on capital deployment is expected to boost shareholder returns. Its restructuring activities are also expected to benefit in the long run. Also, the company is raising investment in emerging markets to boost global sales. It is trying to take advantage of emerging markets growth via product launches and joint ventures.”
Several other research analysts have also recently issued reports on the company. Barclays reaffirmed a “buy” rating and issued a $61.00 price target on shares of General Motors in a report on Tuesday. Vetr cut General Motors from a “hold” rating to a “sell” rating and set a $40.10 price target on the stock. in a report on Monday, January 1st. Evercore ISI upped their price target on General Motors from $40.00 to $41.38 in a report on Friday, December 29th. Royal Bank of Canada raised General Motors from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $51.00 to $52.00 in a report on Tuesday, December 19th. Finally, Cascend Securities cut General Motors to a “buy” rating in a report on Tuesday, December 5th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.29.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. The company had revenue of $30.48 billion for the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 earnings per share. equities analysts predict that General Motors will post 6.25 earnings per share for the current fiscal year.
In other news, insider Barry L. Engle II sold 50,443 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the transaction, the insider now directly owns 57,091 shares in the company, valued at approximately $2,459,480.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Thomas S. Timko sold 44,791 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the transaction, the chief accounting officer now owns 66,838 shares in the company, valued at $2,971,617.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 552,298 shares of company stock worth $24,408,137. Corporate insiders own 0.04% of the company’s stock.
Several institutional investors have recently bought and sold shares of GM. Berkshire Hathaway Inc. grew its holdings in shares of General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after acquiring an additional 10,000,000 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of General Motors by 290.9% during the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after acquiring an additional 7,625,809 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of General Motors during the 3rd quarter valued at $202,352,000. Vanguard Group Inc. grew its holdings in shares of General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after acquiring an additional 3,560,717 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of General Motors by 72.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,210,479 shares of the auto manufacturer’s stock valued at $147,072,000 after acquiring an additional 1,775,924 shares in the last quarter. Institutional investors and hedge funds own 73.01% of the company’s stock.
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About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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