UBS Group Raises General Motors (NYSE:GM) Price Target to $64.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective hoisted by equities researchers at UBS Group from $61.00 to $64.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price target suggests a potential upside of 33.64% from the stock’s previous close.

Several other brokerages also recently issued reports on GM. Wells Fargo & Company upped their price objective on General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, June 25th. Morgan Stanley raised their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Sanford C. Bernstein started coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective for the company. Citigroup raised their target price on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and an average target price of $55.96.

General Motors Stock Performance

Shares of GM opened at $47.89 on Wednesday. General Motors has a 12-month low of $26.30 and a 12-month high of $49.35. The stock has a market cap of $54.64 billion, a P/E ratio of 5.85, a PEG ratio of 0.49 and a beta of 1.43. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $45.92 and a two-hundred day moving average of $42.06.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the company posted $2.21 EPS. The company’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that General Motors will post 9.43 EPS for the current fiscal year.

General Motors declared that its Board of Directors has approved a share buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at General Motors

In other news, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the transaction, the president now directly owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

Several large investors have recently modified their holdings of the business. LifeSteps Financial Inc. purchased a new position in General Motors in the first quarter valued at about $25,000. Highlander Capital Management LLC purchased a new position in shares of General Motors during the 4th quarter valued at approximately $27,000. Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares in the last quarter. Cape Investment Advisory Inc. increased its stake in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new stake in General Motors in the first quarter valued at $30,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.