General Motors (NYSE:GM) Given Neutral Rating at Piper Sandler

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U's stock had its "neutral" rating reaffirmed by equities research analysts at Piper Sandler in a report issued on Thursday, Marketbeat.com reports. They presently have a $48.00 price objective on the auto manufacturer's stock, up from their previous price objective of $43.00. Piper Sandler's price objective would indicate a potential downside of 2.56% from the stock's current price.

GM has been the subject of several other research reports. Barclays lifted their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Citigroup initiated coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective for the company. UBS Group dropped their price objective on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $54.56.

General Motors Stock Performance

Shares of GM stock opened at $49.26 on Thursday. The company has a market capitalization of $47.36 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 0.67 and a beta of 1.36. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The company has a 50-day simple moving average of $46.98 and a 200 day simple moving average of $49.98. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The business had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. General Motors's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.62 EPS. On average, sell-side analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its holdings in shares of General Motors by 26.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,849 shares of the auto manufacturer's stock valued at $322,000 after purchasing an additional 1,425 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of General Motors by 39.1% during the 1st quarter. Focus Partners Wealth now owns 154,848 shares of the auto manufacturer's stock valued at $7,283,000 after purchasing an additional 43,527 shares during the last quarter. Integrity Alliance LLC. bought a new stake in shares of General Motors during the 1st quarter valued at approximately $409,000. Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of General Motors by 73.0% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 173,000 shares of the auto manufacturer's stock valued at $8,136,000 after purchasing an additional 73,000 shares during the last quarter. Finally, Woodline Partners LP grew its holdings in shares of General Motors by 382.4% during the 1st quarter. Woodline Partners LP now owns 318,552 shares of the auto manufacturer's stock valued at $14,982,000 after purchasing an additional 252,517 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Company Profile

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.