General Motors (NYSE:GM) Price Target Raised to $46.00

Key Points

• Wells Fargo & Company raised General Motors' price target from $40.00 to $46.00, while maintaining an "underweight" rating, indicating a potential downside of 31.06% from the last closing price.
• Analysts are divided on General Motors, with some firms like Wedbush setting a target price of $75.00 and others like JPMorgan Chase raising their target to $80.00, reflecting a consensus rating of "Moderate Buy" and an average target price of $68.20.
• General Motors reported positive earnings results, beating estimates with $2.80 earnings per share on revenues of $48.59 billion, although revenue was down 0.3% compared to the same quarter last year.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U had its price objective hoisted by research analysts at Wells Fargo & Company from $40.00 to $46.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the auto manufacturer's stock. Wells Fargo & Company's target price would suggest a potential downside of 31.06% from the company's previous close.

Several other research analysts have also recently commented on the stock. Wedbush set a $75.00 target price on shares of General Motors and gave the stock an "outperform" rating in a report on Tuesday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of General Motors in a report on Wednesday, October 8th. Jefferies Financial Group raised their target price on shares of General Motors from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, October 6th. Barclays lifted their price objective on shares of General Motors from $73.00 to $77.00 and gave the company an "overweight" rating in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of General Motors from $60.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.20.

General Motors Stock Performance

GM stock traded up $0.10 during mid-day trading on Wednesday, hitting $66.72. 3,483,049 shares of the company were exchanged, compared to its average volume of 11,022,829. The business has a 50 day simple moving average of $58.38 and a 200-day simple moving average of $52.34. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $63.52 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33. General Motors has a 1-year low of $41.60 and a 1-year high of $67.55.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. During the same period last year, the business posted $2.96 earnings per share. The business's revenue for the quarter was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

Insider Activity

In related news, CEO Mary T. Barra sold 907,024 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the transaction, the chief executive officer owned 552,238 shares in the company, valued at $32,162,341.12. The trade was a 62.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark L. Reuss sold 136,161 shares of the business's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the completion of the transaction, the president owned 131,036 shares in the company, valued at approximately $7,877,884.32. The trade was a 50.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,074,824 shares of company stock worth $122,377,213 in the last three months. Corporate insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Earned Wealth Advisors LLC increased its stake in General Motors by 12.0% in the third quarter. Earned Wealth Advisors LLC now owns 8,104 shares of the auto manufacturer's stock valued at $494,000 after purchasing an additional 869 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of General Motors by 5.9% during the third quarter. Global Retirement Partners LLC now owns 7,275 shares of the auto manufacturer's stock worth $444,000 after acquiring an additional 408 shares in the last quarter. NTV Asset Management LLC bought a new stake in shares of General Motors during the third quarter worth about $234,000. SteelPeak Wealth LLC bought a new stake in shares of General Motors during the third quarter worth about $3,411,000. Finally, Relyea Zuckerberg Hanson LLC bought a new stake in General Motors in the 3rd quarter worth about $230,000. 92.67% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.