General Motors (NYSE:GM) Receives Outperform Rating from Wedbush

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U's stock had its "outperform" rating reiterated by stock analysts at Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $55.00 price target on the auto manufacturer's stock. Wedbush's price objective points to a potential upside of 12.19% from the company's previous close.

Several other research firms have also weighed in on GM. CLSA upgraded shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. Citigroup initiated coverage on shares of General Motors in a report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price on the stock. Mizuho increased their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Finally, Bank of America dropped their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of "Hold" and an average target price of $56.35.

General Motors Stock Down 7.9%

GM stock opened at $49.02 on Wednesday. The stock has a market capitalization of $47.13 billion, a P/E ratio of 7.06, a P/E/G ratio of 1.43 and a beta of 1.32. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The firm has a 50-day simple moving average of $50.02 and a 200-day simple moving average of $48.69. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period last year, the company posted $3.06 EPS. The business's revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of General Motors in the fourth quarter valued at about $25,404,000. Cassia Capital Partners LLC lifted its stake in shares of General Motors by 63.0% in the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after purchasing an additional 7,221 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of General Motors by 38.9% in the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after purchasing an additional 1,712,033 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of General Motors in the first quarter valued at about $312,000. Finally, OMNI 360 Wealth Inc. acquired a new stake in shares of General Motors in the first quarter valued at about $363,000. Hedge funds and other institutional investors 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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