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

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Wells Fargo & Company from $35.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 26.11% from the company’s current price.

A number of other research analysts have also recently commented on GM. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Tuesday. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. UBS Group upped their price target on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Motors presently has a consensus rating of “Hold” and an average price target of $61.28.

General Motors Stock Performance

GM opened at $50.07 on Wednesday. The stock has a market cap of $55.06 billion, a PE ratio of 5.34, a P/E/G ratio of 0.38 and a beta of 1.42. General Motors has a 1 year low of $34.93 and a 1 year high of $61.24. The stock’s 50 day simple moving average is $53.04 and its 200-day simple moving average is $49.95. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

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 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%. Sell-side analysts forecast that General Motors will post 10.34 EPS for the current year.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the company’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 sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,344 shares of company stock worth $28,977,691 over the last three months. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Motors

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

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.