General Motors Stock Rating Downgraded by HSBC Global Research

General Motors (NYSE:GM - Get Free Report) has been the focus of a recent downgrade by analysts at HSBC Global Research. In a report released on Wednesday, the firm adjusted its rating from a "strong-buy" to a "hold" for the automotive giant, also establishing a target price of $58.00 per share.

Other analysts have also shared their insights on General Motors. For example, Mizuho recently raised its target price for the company from $59.00 to $62.00, maintaining an "outperform" rating. Similarly, the Royal Bank of Canada increased its price target from $58.00 to $65.00, also classifying the stock as an "outperform". In addition, UBS Group has adjusted its target price upwards from $58.00 to $62.00, giving GM a "buy" rating. Sanford C. Bernstein has also raised its target from $53.00 to $55.00, with a "market perform" rating assigned. Overall, General Motors has received varied ratings from analysts: three have rated it as a sell, ten as a hold, nine as a buy, and one as a strong buy. As per MarketBeat.com, the consensus rating stands at "Hold" with an average target price of $58.85.

Current Stock Performance

On Wednesday, shares of General Motors opened at $52.30. The company boasts a market capitalization of $57.51 billion, with a price-to-earnings ratio of 5.58 and a beta of 1.42. Over the past twelve months, the stock has seen a low of $32.83 and a high of $61.24. General Motors displays a current ratio of 1.21 and a quick ratio of 1.03, with a debt-to-equity ratio standing at 1.24. Additionally, its 50-day moving average price is $52.72, while the 200-day moving average price is $48.56.

Earnings Report Highlights

General Motors recently released its quarterly earnings data on October 22nd, showing an earnings per share (EPS) of $2.96, surpassing analysts' expectations of $2.49 by $0.47. The company's revenue for the quarter reached $48.76 billion, exceeding the estimated $44.67 billion. With a return on equity of 16.30% and a net margin of 6.06%, GM reported a year-over-year revenue increase of 10.5%. This is a notable rise compared to last year's EPS of $2.28. Analysts anticipate General Motors will achieve an EPS of 10.35 for the current fiscal year.

Insider Trading Activity

In related developments, General Motors experienced significant stock sales by its insiders. EVP Rory Harvey sold 8,919 shares on November 25th at an average price of $60.01, totaling around $535,229.19. Following this sale, he now holds 8,513 shares valued at approximately $510,865.13. Meanwhile, CEO Mary T. Barra divested 506,824 shares on October 23rd, accumulating a total of about $27,028,924 from the transaction, which reflects a 42.19% decrease in her holdings. Over the last three months, insiders have sold a total of 1,030,475 shares worth $56,509,286, and corporate insiders hold 0.72% of the company's stock.

Hedge Fund Activities

Many hedge funds have recently adjusted their positions in General Motors. For instance, Strategic Investment Solutions Inc. IL entered a new position in GM during the second quarter, valued at $25,000. Catalyst Capital Advisors LLC and Truvestments Capital LLC also acquired new positions worth around $27,000 each in the third quarter. Meanwhile, Wellington Shields Capital Management LLC bought in for roughly $28,000. Institutional investors and hedge funds collectively own approximately 92.67% of General Motors’ stock.

About General Motors

General Motors Company designs, builds, and sells a range of vehicles including cars, trucks, and crossover models, along with automobile parts and software-enabled services on a global scale. The company operates through various segments like GM North America, GM International, Cruise, and GM Financial, promoting its vehicles primarily under well-known brands such as Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling.

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