Evercore ISI Forecasts Strong Price Appreciation for General Motors (NYSE:GM) Stock

Key Points

• Evercore ISI has raised its price target for General Motors from $55 to $68, indicating a potential upside of 22.84% from the current stock price, along with an "outperform" rating.
• Despite the positive outlook from Evercore, other analysts have mixed opinions, with Bank of America lowering its target to $62, while UBS upgraded its target significantly to $81.
• General Motors has seen substantial insider selling, including shares sold by President Mark L. Reuss, which raises questions about the leadership's confidence in the company's stock performance.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U had its price target raised by research analysts at Evercore ISI from $55.00 to $68.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the auto manufacturer's stock. Evercore ISI's price target points to a potential upside of 22.84% from the stock's current price.

Other analysts have also recently issued reports about the stock. Bank of America decreased their price target on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. UBS Group upgraded General Motors from a "neutral" rating to a "buy" rating and increased their price objective for the company from $56.00 to $81.00 in a research report on Wednesday, September 24th. CLSA upgraded General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Wedbush raised their price target on General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, Wells Fargo & Company boosted their price objective on General Motors from $38.00 to $40.00 and gave the stock an "underweight" rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, General Motors has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

General Motors Stock Down 1.0%

NYSE GM opened at $55.36 on Monday. The stock's 50 day simple moving average is $57.61 and its 200 day simple moving average is $51.79. General Motors has a one year low of $41.60 and a one year high of $62.14. The firm has a market cap of $52.70 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 1.17 and a beta of 1.33. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. The business's revenue for the quarter was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 136,161 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total value of $8,185,999.32. Following the completion of the transaction, the president owned 131,036 shares in the company, valued at $7,877,884.32. This represents a 50.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 36,804 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,074,824 shares of company stock valued at $122,377,213 over the last 90 days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Motors

A number of large investors have recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in shares of General Motors in the second quarter worth $25,000. GFG Capital LLC bought a new stake in General Motors during the 2nd quarter worth about $27,000. Costello Asset Management INC bought a new stake in General Motors during the 1st quarter worth about $32,000. RMG Wealth Management LLC bought a new position in shares of General Motors in the 2nd quarter valued at about $32,000. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of General Motors by 94.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 545 shares of the auto manufacturer's stock valued at $33,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds 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.

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