The stock of General Motors Company (NYSE:GM) hit a new 52-week high and has $38.44 target or 6.00% above today’s $36.26 share price. The 8 months bullish chart indicates low risk for the $55.21B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $38.44 price target is reached, the company will be worth $3.31 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 28.27 million shares traded hands or 87.59% up from the average. General Motors Company (NYSE:GM) has risen 6.44% since April 28, 2016 and is uptrending. It has outperformed by 0.52% the S&P500.
Analysts await General Motors Company (NYSE:GM) to report earnings on February, 1. They expect $1.20 earnings per share, down 13.67% or $0.19 from last year’s $1.39 per share. GM’s profit will be $1.83 billion for 7.55 P/E if the $1.20 EPS becomes a reality. After $1.72 actual earnings per share reported by General Motors Company for the previous quarter, Wall Street now forecasts -30.23% negative EPS growth.
General Motors Company (NYSE:GM) Ratings Coverage
Out of 16 analysts covering General Motors Company (NYSE:GM), 8 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 50% are positive. General Motors Company has been the topic of 38 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Friday, June 10 the stock rating was initiated by Piper Jaffray with “Overweight”. Morgan Stanley reinitiated General Motors Company (NYSE:GM) on Monday, August 24 with “Underweight” rating. The stock of General Motors Company (NYSE:GM) has “Overweight” rating given on Monday, September 19 by Morgan Stanley. The company was maintained on Friday, July 24 by UBS. Nomura initiated General Motors Company (NYSE:GM) rating on Tuesday, September 20. Nomura has “Neutral” rating and $33 price target. S&P Research maintained General Motors Company (NYSE:GM) on Friday, September 18 with “Strong Buy” rating. On Tuesday, April 19 the stock rating was maintained by JP Morgan with “Overweight”. The stock has “Hold” rating given by Jefferies on Tuesday, August 9. The stock has “Buy” rating given by Citigroup on Monday, May 16. The firm has “Hold” rating by Vetr given on Tuesday, August 11.
According to Zacks Investment Research, “General Motors Company is engaged in the designing, manufacturing and retailing of vehicles globally including passenger cars, crossover vehicles, and light trucks, sport utility vehicles, vans and other vehicles. Its business is organized into three geographically-based segments- General Motors North America (GMNA), General Motors International Operations (GMIO) and General Motors Europe (GME). General Motors Company is headquartered in Detroit, Michigan, the United States of America.”
Insitutional Activity: The institutional sentiment increased to 1.14 in Q2 2016. Its up 0.05, from 1.09 in 2016Q1. The ratio increased, as 85 funds sold all General Motors Company shares owned while 275 reduced positions. 66 funds bought stakes while 326 increased positions. They now own 1.08 billion shares or 4.97% less from 1.13 billion shares in 2016Q1.
Columbia Asset reported 95,065 shares or 0.96% of all its holdings. Moreover, Amer Assets Mngmt Limited Liability Company has 1.48% invested in General Motors Company (NYSE:GM) for 214,500 shares. Twin Capital Mngmt Inc accumulated 156,310 shares or 0.33% of the stock. Group Inc reported 469,452 shares or 0% of all its holdings. Affinity Advsrs Ltd Liability Corporation has 448,003 shares for 0.94% of their US portfolio. Lord Abbett Ltd Liability holds 0.17% of its portfolio in General Motors Company (NYSE:GM) for 1.89 million shares. Capwealth Advisors Llc accumulated 0.01% or 1,700 shares. Bessemer Grp accumulated 2,777 shares or 0% of the stock. The New York-based Kazazian Asset Mgmt Ltd Company has invested 5.62% in General Motors Company (NYSE:GM). Brick And Kyle Associates accumulated 0.02% or 654 shares. Seabridge Invest Advisors Limited Liability Com has 0% invested in the company for 250 shares. Gulf International Bancorporation (Uk) Limited holds 0.2% or 425,441 shares in its portfolio. Alps Advisors Inc owns 16,681 shares or 0% of their US portfolio. Moreover, Two Sigma Llc has 0.45% invested in General Motors Company (NYSE:GM) for 29,549 shares. State Of Tennessee Treasury Department reported 975,394 shares or 0.14% of all its holdings.
More news for General Motors Company (NYSE:GM) were recently published by: Fortune.com, which released: “General Motors to Lay Off 2000 Employees in Ohio and Michigan” on November 09, 2016. Seekingalpha.com‘s article titled: “General Motors higher after U.S. sales beat estimates” and published on December 01, 2016 is yet another important article.
GM Company Profile
General Motors Company, incorporated on August 11, 2009, designs, manufactures and sells cars, trucks, crossovers and automobile parts. The Firm provides automotive financing services through General Motors Financial Company, Inc. (GM Financial). The Company’s divisions include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial. The GMNA segment offers vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet and GMC brands in North America. The Firm offers vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet, GMC, Holden, Opel and Vauxhall brands outside North America.
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