Deutsche Bank Increases General Motors (NYSE:GM) Price Target to $33.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by investment analysts at Deutsche Bank from $30.00 to $33.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the auto manufacturer’s stock. Deutsche Bank’s price target suggests a potential upside of 32.58% from the company’s previous close.

Several other brokerages have also issued reports on GM. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Wednesday, May 27th. Goldman Sachs Group raised shares of General Motors from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Thursday, June 11th. Nomura dropped their target price on shares of General Motors from $36.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Nomura Instinet dropped their price target on General Motors from $36.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and issued a $28.00 target price on shares of General Motors in a research report on Thursday, June 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $35.37.

GM stock opened at $24.89 on Thursday. The firm has a 50-day moving average price of $25.92 and a 200-day moving average price of $26.92. General Motors has a 12 month low of $14.32 and a 12 month high of $41.90. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $36.06 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Wednesday, July 29th. The auto manufacturer reported ($0.50) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.72) by $1.22. The business had revenue of $16.80 billion during the quarter, compared to the consensus estimate of $16.93 billion. General Motors had a net margin of 1.46% and a return on equity of 6.27%. The firm’s revenue was down 53.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. As a group, equities analysts predict that General Motors will post 1.42 EPS for the current fiscal year.

In other news, EVP Julian G. Blissett acquired 9,300 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $26.00 per share, for a total transaction of $241,800.00. Following the acquisition, the executive vice president now owns 22,130 shares of the company’s stock, valued at $575,380. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.65% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Comerica Bank lifted its holdings in shares of General Motors by 6.5% during the 2nd quarter. Comerica Bank now owns 314,993 shares of the auto manufacturer’s stock worth $8,284,000 after acquiring an additional 19,334 shares during the period. Lincoln National Corp acquired a new stake in shares of General Motors in the 2nd quarter valued at $208,000. Sigma Planning Corp increased its stake in shares of General Motors by 59.0% in the 2nd quarter. Sigma Planning Corp now owns 17,738 shares of the auto manufacturer’s stock valued at $449,000 after purchasing an additional 6,585 shares during the last quarter. Pzena Investment Management LLC acquired a new position in shares of General Motors during the 2nd quarter worth $928,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of General Motors during the 2nd quarter worth $278,000. 75.41% of the stock is currently owned by institutional investors and hedge funds.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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