Royal Bank of Canada Boosts General Motors (GM) Price Target to $50.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by research analysts at Royal Bank of Canada from $45.00 to $50.00 in a research note issued on Monday. The brokerage presently has an “outperform” rating on the auto manufacturer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 32.50% from the stock’s previous close.

GM has been the topic of several other research reports. Zacks Investment Research downgraded General Motors from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. BMO Capital Markets raised their price target on General Motors to $47.00 and gave the stock an “outperform” rating in a report on Monday. Barclays reissued a “buy” rating and issued a $49.00 price target on shares of General Motors in a report on Monday. Buckingham Research set a $34.00 price target on General Motors and gave the stock a “hold” rating in a report on Friday. Finally, ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $45.56.

Shares of GM traded up $0.55 during mid-day trading on Monday, hitting $37.74. The stock had a trading volume of 9,834,888 shares, compared to its average volume of 12,828,623. The firm has a market cap of $49.65 billion, a price-to-earnings ratio of 5.70, a PEG ratio of 0.70 and a beta of 1.22. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.52.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 EPS for the quarter, topping the consensus estimate of $1.25 by $0.62. The company had revenue of $35.79 billion during the quarter, compared to analyst estimates of $34.85 billion. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 EPS. On average, sell-side analysts predict that General Motors will post 6.27 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Nexus Investment Management Inc. raised its stake in General Motors by 1.0% during the 4th quarter. Nexus Investment Management Inc. now owns 406,465 shares of the auto manufacturer’s stock valued at $13,596,000 after acquiring an additional 4,100 shares in the last quarter. Visionary Asset Management Inc. bought a new stake in General Motors during the 4th quarter valued at $270,000. First Hawaiian Bank raised its stake in General Motors by 6.1% during the 4th quarter. First Hawaiian Bank now owns 9,142 shares of the auto manufacturer’s stock valued at $306,000 after acquiring an additional 524 shares in the last quarter. Moody National Bank Trust Division raised its stake in General Motors by 0.9% during the 4th quarter. Moody National Bank Trust Division now owns 108,957 shares of the auto manufacturer’s stock valued at $3,645,000 after acquiring an additional 972 shares in the last quarter. Finally, Hollencrest Capital Management raised its stake in General Motors by 264.7% during the 4th quarter. Hollencrest Capital Management now owns 24,799 shares of the auto manufacturer’s stock valued at $829,000 after acquiring an additional 18,000 shares in the last quarter. 75.69% of the stock is currently owned by hedge funds and other institutional investors.

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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