Barclays Boosts General Motors (NYSE:GM) Price Target to $60.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by Barclays from $55.00 to $60.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the auto manufacturer’s stock. Barclays‘s price objective suggests a potential upside of 30.61% from the company’s previous close.

GM has been the topic of a number of other research reports. Morgan Stanley upped their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Citigroup upped their price objective on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler boosted their target price on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Redburn Atlantic began coverage on General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $54.65.

General Motors Stock Performance

Shares of NYSE:GM traded up $0.32 during trading on Friday, reaching $45.94. The company had a trading volume of 3,010,643 shares, compared to its average volume of 17,332,016. The firm has a market capitalization of $52.42 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The stock’s fifty day moving average price is $42.13 and its 200 day moving average price is $36.19. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that General Motors will post 9.44 EPS for the current year.

Insider Buying and Selling

In other news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the sale, the executive vice president now owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently modified their holdings of the business. SouthState Corp boosted its position in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. Highlander Capital Management LLC acquired a new stake in General Motors during the fourth quarter valued at $27,000. Cape Investment Advisory Inc. boosted its position in General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in General Motors during the third quarter valued at $33,000. Finally, Sachetta LLC bought a new position in General Motors during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.