General Motors (GM) Price Target Cut to $54.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $58.00 to $54.00 in a research note issued on Friday, July 27th. The firm currently has an “overweight” rating on the auto manufacturer’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 47.58% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on GM. Zacks Investment Research downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Jefferies Financial Group reaffirmed a “hold” rating and set a $39.00 target price on shares of General Motors in a research note on Friday, July 27th. Piper Jaffray Companies set a $51.00 target price on shares of General Motors and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Buckingham Research cut their target price on shares of General Motors from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, July 26th. Finally, Royal Bank of Canada dropped their price objective on shares of General Motors from $53.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $47.21.

General Motors traded down $0.92, hitting $36.59, on Friday, MarketBeat Ratings reports. The stock had a trading volume of 9,325,693 shares, compared to its average volume of 11,510,668. The firm has a market capitalization of $52.92 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.76 and a beta of 1.59. General Motors has a 1-year low of $34.50 and a 1-year high of $46.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.74.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. The business had revenue of $36.80 billion for the quarter, compared to the consensus estimate of $36.62 billion. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. equities analysts anticipate that General Motors will post 6 earnings per share for the current fiscal year.

In related news, EVP Alan S. Batey sold 215,685 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $43.01, for a total transaction of $9,276,611.85. Following the completion of the sale, the executive vice president now owns 84,594 shares in the company, valued at approximately $3,638,387.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new position in shares of General Motors in the 1st quarter valued at about $119,000. MUFG Americas Holdings Corp purchased a new position in shares of General Motors in the 2nd quarter valued at about $123,000. Kaizen Advisory LLC increased its holdings in shares of General Motors by 163.6% in the 2nd quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock valued at $130,000 after purchasing an additional 2,047 shares in the last quarter. CWM LLC increased its holdings in shares of General Motors by 108.4% in the 2nd quarter. CWM LLC now owns 3,510 shares of the auto manufacturer’s stock valued at $138,000 after purchasing an additional 1,826 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of General Motors in the 1st quarter valued at about $141,000. Institutional investors own 73.04% of the company’s stock.

General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Analyst Recommendations for General Motors (NYSE:GM)

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