Vetr Downgrades General Motors (GM) to Hold

General Motors (NYSE:GM) (TSE:GMM.U) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “hold” rating in a report issued on Monday, December 4th. They presently have a $43.99 price objective on the auto manufacturer’s stock. Vetr‘s target price suggests a potential upside of 7.32% from the stock’s current price.

A number of other research firms have also recently commented on GM. UBS Group restated a “buy” rating and issued a $50.00 price objective (up from $39.00) on shares of General Motors in a research report on Wednesday, October 11th. Buckingham Research restated a “hold” rating on shares of General Motors in a research report on Thursday, August 24th. Craig Hallum set a $45.00 price objective on General Motors and gave the company a “hold” rating in a research report on Wednesday, October 25th. Piper Jaffray Companies set a $51.00 price target on General Motors and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada lifted their price target on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $43.63.

Shares of General Motors (NYSE:GM) traded down $0.39 during trading hours on Monday, hitting $40.99. The stock had a trading volume of 6,579,462 shares, compared to its average volume of 11,336,214. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. The stock has a market capitalization of $58,776.49, a PE ratio of 21.02, a price-to-earnings-growth ratio of 0.72 and a beta of 1.54. General Motors has a 1 year low of $31.92 and a 1 year high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.25. The company had revenue of $30.48 billion during the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. General Motors’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period last year, the business earned $1.72 earnings per share. research analysts expect that General Motors will post 6.25 EPS for the current fiscal year.

In other news, insider Alicia S. Boler-Davis sold 10,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $40.90, for a total transaction of $409,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles K. Stevens III sold 265,458 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.49, for a total value of $11,810,226.42. Following the transaction, the chief financial officer now directly owns 326,510 shares of the company’s stock, valued at $14,526,429.90. The disclosure for this sale can be found here. Insiders sold a total of 735,252 shares of company stock worth $32,009,042 in the last quarter. Company insiders own 0.04% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC boosted its position in shares of General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after purchasing an additional 860 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of General Motors in the 3rd quarter valued at about $119,000. State of Alaska Department of Revenue boosted its position in shares of General Motors by 10.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock valued at $113,000 after purchasing an additional 310 shares during the period. Ffcm LLC boosted its position in shares of General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after purchasing an additional 3,213 shares during the period. Finally, Ropes Wealth Advisors LLC boosted its position in shares of General Motors by 240.2% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $161,000 after purchasing an additional 3,248 shares during the period. 73.01% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Week Herald and is the property of of Week Herald. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The legal version of this news story can be viewed at https://weekherald.com/2017/12/30/general-motors-gm-cut-to-hold-at-vetr.html.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply