Wedbush Reiterates "Outperform" Rating for General Motors (NYSE:GM)

Key Points

• Wedbush has reiterated its "Outperform" rating for General Motors, with a price target of $65.00, indicating a potential upside of 12.31% from the last closing price.
• Recent analyst ratings show a mixed outlook, including a "moderate buy" from CLSA and a lowered target from Bank of America, with an overall consensus rating of "Moderate Buy".
• Insider trading activity has been significant, with President Mark L. Reuss and CEO Mary T. Barra selling large amounts of stock, indicating a potential change in investor sentiment.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U's stock had its "outperform" rating reiterated by stock analysts at Wedbush in a note issued to investors on Thursday,Benzinga reports. They currently have a $65.00 price target on the auto manufacturer's stock. Wedbush's price target would suggest a potential upside of 12.31% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. CLSA raised General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Weiss Ratings reissued a "buy (b-)" rating on shares of General Motors in a report on Wednesday, October 8th. Benchmark initiated coverage on General Motors in a report on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. Mizuho upped their target price on shares of General Motors from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 23rd. Finally, Bank of America cut their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.00.

General Motors Price Performance

Shares of General Motors stock opened at $57.88 on Thursday. General Motors has a 12-month low of $41.60 and a 12-month high of $62.14. The firm has a market cap of $55.10 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The company's fifty day simple moving average is $57.86 and its two-hundred day simple moving average is $51.93.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted 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 net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. During the same period last year, the company posted $3.06 EPS. The company's quarterly revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities analysts expect that General Motors will post 11.44 EPS for the current year.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 136,161 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the sale, the president directly owned 131,036 shares of the company's stock, valued at approximately $7,877,884.32. This trade represents a 50.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary T. Barra sold 753,720 shares of General Motors stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the completion of the transaction, the chief executive officer directly owned 433,527 shares of the company's stock, valued at $25,989,943.65. The trade was a 63.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,074,824 shares of company stock valued at $122,377,213 over the last quarter. Insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On General Motors

Hedge funds have recently modified their holdings of the business. Trust Co. of Toledo NA OH acquired a new stake in General Motors in the 2nd quarter valued at about $25,000. GFG Capital LLC purchased a new stake in General Motors in the second quarter valued at approximately $27,000. Costello Asset Management INC acquired a new stake in General Motors during the 1st quarter worth $32,000. RMG Wealth Management LLC purchased a new stake in General Motors during the 2nd quarter valued at approximately $32,000. Finally, Armstrong Advisory Group Inc. grew its position in 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 buying an additional 265 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other 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.

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.