Goldman Sachs Group, Inc. (The) Downgrades General Motors Company (GM) to Sell

General Motors Company (NYSE:GM) (TSE:GMM.U) was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “sell” rating in a research report issued on Monday. They presently have a $32.00 price target on the auto manufacturer’s stock, down from their previous price target of $43.16. Goldman Sachs Group, Inc. (The)’s target price would indicate a potential downside of 25.55% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Deutsche Bank AG boosted their target price on shares of General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. BMO Capital Markets raised shares of General Motors to a “market perform” rating and boosted their target price for the stock from $41.00 to $48.00 in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 target price on shares of General Motors and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada boosted their target price on shares of General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $46.48 to $43.00 in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.37.

General Motors (NYSE:GM) opened at 42.98 on Monday. The company has a market capitalization of $62.63 billion, a P/E ratio of 7.47 and a beta of 1.45. The firm’s 50-day moving average is $42.65 and its 200-day moving average is $36.83. General Motors has a 1-year low of $30.21 and a 1-year high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The business had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. General Motors’s revenue was down 16.6% compared to the same quarter last year. Equities research analysts predict that General Motors will post $6.30 EPS for the current year.

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In other General Motors news, insider Alan S. Batey sold 8,144 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total transaction of $289,682.08. Following the transaction, the insider now directly owns 66,748 shares in the company, valued at approximately $2,374,226.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jane L. Mendillo bought 1,440 shares of the business’s stock in a transaction on Friday, August 18th. The shares were acquired at an average price of $34.86 per share, for a total transaction of $50,198.40. Following the completion of the transaction, the director now owns 4,560 shares in the company, valued at approximately $158,961.60. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 979,266 shares of company stock worth $40,917,634. 0.04% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in GM. Waldron LP lifted its position in General Motors by 13.6% during the 1st quarter. Waldron LP now owns 8,132 shares of the auto manufacturer’s stock valued at $287,000 after purchasing an additional 975 shares during the period. Eliot Finkel Investment Counsel LLC lifted its position in General Motors by 12.1% during the 1st quarter. Eliot Finkel Investment Counsel LLC now owns 154,240 shares of the auto manufacturer’s stock valued at $5,454,000 after purchasing an additional 16,700 shares during the period. SRS Capital Advisors Inc. lifted its position in General Motors by 171.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after purchasing an additional 3,262 shares during the period. Accident Compensation Corp acquired a new position in General Motors during the 1st quarter valued at about $559,000. Finally, Legal & General Group Plc lifted its position in General Motors by 3.3% during the 1st quarter. Legal & General Group Plc now owns 7,618,441 shares of the auto manufacturer’s stock valued at $269,387,000 after purchasing an additional 246,770 shares during the period. Institutional investors own 72.83% of the company’s stock.

About General Motors

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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