Citigroup Inc. Reiterates “Buy” Rating for General Motors Company (GM)

General Motors Company (NYSE:GM) (TSE:GMM.U)‘s stock had its “buy” rating reiterated by stock analysts at Citigroup Inc. in a research note issued to investors on Monday. They currently have a $53.00 price objective on the auto manufacturer’s stock. Citigroup Inc.’s target price would indicate a potential upside of 17.23% from the stock’s previous close.

Several other research analysts have also issued reports on GM. Berenberg Bank reiterated a “sell” rating and set a $31.00 price objective on shares of General Motors in a research note on Tuesday, June 13th. Wolfe Research initiated coverage on General Motors in a research note on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating and set a $36.00 price objective on shares of General Motors in a research note on Tuesday, June 13th. BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $40.00 price objective (down from $44.00) on shares of General Motors in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.35.

Shares of General Motors (NYSE GM) opened at 45.21 on Monday. The firm has a market cap of $65.88 billion, a price-to-earnings ratio of 7.86 and a beta of 1.44. General Motors has a 52-week low of $30.21 and a 52-week high of $45.43. The stock’s 50 day moving average price is $39.09 and its 200-day moving average price is $35.69.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. During the same period in the prior year, the company posted $1.86 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts forecast that General Motors will post $6.13 EPS for the current year.

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In other General Motors news, EVP Craig B. Glidden sold 192,954 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $41.64, for a total transaction of $8,034,604.56. Following the transaction, the executive vice president now owns 214,171 shares in the company, valued at $8,918,080.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Patricia F. Russo bought 10,000 shares of General Motors stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the acquisition, the director now owns 12,300 shares of the company’s stock, valued at approximately $427,179. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 852,901 shares of company stock worth $32,378,733. Company insiders own 0.04% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in General Motors by 4.0% during the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after buying an additional 3,560,717 shares during the last quarter. BlackRock Inc. boosted its holdings in General Motors by 1.1% during the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock worth $2,750,849,000 after buying an additional 850,211 shares during the last quarter. State Street Corp boosted its holdings in General Motors by 3.9% during the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after buying an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. boosted its holdings in General Motors by 20.0% during the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after buying an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors boosted its holdings in General Motors by 5.0% during the second quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock worth $1,094,259,000 after buying an additional 1,500,500 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.

General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

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