General Motors (NYSE:GM) Stock Price Expected to Rise, Piper Sandler Analyst Says

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by analysts at Piper Sandler from $45.00 to $48.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the auto manufacturer’s stock. Piper Sandler’s price objective suggests a potential downside of 3.44% from the company’s previous close.

Several other equities research analysts have also issued reports on GM. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. TD Cowen initiated coverage on General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. UBS Group restated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.06.

General Motors Stock Performance

Shares of NYSE:GM traded down $0.08 during midday trading on Thursday, hitting $49.71. The company had a trading volume of 953,932 shares, compared to its average volume of 12,761,648. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a market cap of $49.46 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.67 and a beta of 1.42. The company has a fifty day moving average of $49.05 and a two-hundred day moving average of $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, equities research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several large investors have recently bought and sold shares of GM. Franklin Resources Inc. boosted its position in shares of General Motors by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock valued at $1,559,380,000 after purchasing an additional 1,170,816 shares during the period. Geode Capital Management LLC increased its position in General Motors by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock valued at $1,264,567,000 after acquiring an additional 176,436 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of General Motors by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock valued at $749,382,000 after purchasing an additional 228,408 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of General Motors in the fourth quarter valued at about $592,321,000. 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.