General Motors (NYSE:GM) Given New $37.00 Price Target at Wells Fargo & Company

General Motors (NYSE:GM) (TSE:GMM.U) had its price target upped by investment analysts at Wells Fargo & Company from $35.00 to $37.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s target price points to a potential downside of 26.11% from the stock’s current price.

GM has been the subject of a number of other research reports. Barclays increased their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group boosted their price objective on General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong 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 $61.28.

General Motors Trading Down 8.8 %

Shares of GM stock opened at $50.07 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a 50-day simple moving average of $53.04 and a 200 day simple moving average of $49.95. General Motors has a fifty-two week low of $34.93 and a fifty-two week high of $61.24. The stock has a market capitalization of $55.06 billion, a P/E ratio of 5.34, a P/E/G ratio of 0.38 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 6.06% and a return on equity of 16.30%. On average, sell-side analysts expect that General Motors will post 10.34 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 514,344 shares of company stock worth $28,977,691 in the last three months. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On General Motors

A number of institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the 2nd quarter valued at approximately $25,000. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the fourth quarter worth $25,000. Crews Bank & Trust bought a new position in General Motors during the fourth quarter worth $26,000. Catalyst Capital Advisors LLC acquired a new position in General Motors during the 3rd quarter valued at $27,000. Finally, Truvestments Capital LLC bought a new stake in General Motors in the 3rd quarter valued at $27,000. Institutional investors own 92.67% of the company’s stock.

General Motors Company Profile

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.