The Goldman Sachs Group Trims General Motors (NYSE:GM) Target Price to $46.00

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) had its price target reduced by investment analysts at The Goldman Sachs Group from $59.00 to $46.00 in a research note issued on Wednesday, The Fly reports. The Goldman Sachs Group’s price target would suggest a potential upside of 18.92% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Citigroup decreased their target price on General Motors from $98.00 to $87.00 in a report on Wednesday. Wedbush cut their price target on General Motors from $85.00 to $50.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft cut their price target on General Motors from $75.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, April 21st. Wells Fargo & Company lowered General Motors from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $74.00 to $33.00 in a research note on Wednesday, May 11th. Finally, Nomura Instinet reiterated a “neutral” rating and issued a $56.00 price target (down previously from $66.00) on shares of General Motors in a research note on Wednesday, February 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $61.10.

GM stock opened at $38.68 on Wednesday. General Motors has a fifty-two week low of $34.31 and a fifty-two week high of $67.21. The business’s 50 day moving average price is $39.71 and its two-hundred day moving average price is $49.01. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.93 and a current ratio of 1.11. The company has a market capitalization of $56.40 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.57 and a beta of 1.20.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.53. The business had revenue of $35.98 billion for the quarter, compared to analysts’ expectations of $36.25 billion. General Motors had a return on equity of 16.37% and a net margin of 7.61%. During the same period in the prior year, the firm posted $2.25 EPS. Sell-side analysts forecast that General Motors will post 6.89 earnings per share for the current year.

In related news, EVP Stephen K. Carlisle sold 25,645 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $39.04, for a total value of $1,001,180.80. Following the sale, the executive vice president now owns 64,170 shares in the company, valued at $2,505,196.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Paul A. Jacobson purchased 35,000 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The stock was acquired at an average price of $38.79 per share, for a total transaction of $1,357,650.00. Following the acquisition, the chief financial officer now owns 110,000 shares in the company, valued at approximately $4,266,900. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. acquired a new position in General Motors in the 1st quarter worth about $26,000. Penserra Capital Management LLC grew its stake in General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares during the period. Liberty Wealth Management LLC raised its position in General Motors by 50.1% during the third quarter. Liberty Wealth Management LLC now owns 518 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 173 shares during the period. SJS Investment Consulting Inc. grew its position in shares of General Motors by 220.2% in the first quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 414 shares during the period. Finally, NuWave Investment Management LLC purchased a new stake in shares of General Motors during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 82.66% of the company’s stock.

General Motors Company Profile (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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