General Motors (NYSE:GM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U had its price objective raised by investment analysts at Wells Fargo & Company from $34.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the auto manufacturer's stock. Wells Fargo & Company's price objective would indicate a potential downside of 28.81% from the company's current price.

Several other research firms have also issued reports on GM. Barclays upped their price target on General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Mizuho upped their price objective on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft downgraded General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research note on Monday, April 14th. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Finally, CLSA upgraded General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $56.35.

General Motors Price Performance

GM stock traded up $1.04 during trading on Wednesday, hitting $53.38. The stock had a trading volume of 6,483,783 shares, compared to its average volume of 10,352,842. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.04 and a current ratio of 1.22. The stock has a market cap of $50.82 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 1.10 and a beta of 1.32. The company's 50 day moving average price is $50.23 and its two-hundred day moving average price is $48.73. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

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

Hedge Funds Weigh In On General Motors

Several hedge funds and other institutional investors have recently modified their holdings of GM. Measured Risk Portfolios Inc. bought a new position in General Motors in the 4th quarter valued at $27,000. Trust Co. of Toledo NA OH acquired a new stake in shares of General Motors in the 2nd quarter valued at $25,000. GFG Capital LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $27,000. RMG Wealth Management LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $32,000. Finally, Transce3nd LLC acquired a new stake in shares of General Motors in the 4th quarter valued at $34,000. Institutional investors own 92.67% of the company's stock.

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.