RBC Capital analyst Joseph Spak maintained a Buy rating on General Motors (GM) yesterday and set a price target of $39.00. The company’s shares closed last Thursday at $25.10.
According to TipRanks.com, Spak has 0 stars on 0-5 stars ranking scale with an average return of -9.0% and a 49.8% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Delphi Technologies, Tenneco Automotive, and Garrett Motion.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for General Motors with a $32.08 average price target, which is a 27.7% upside from current levels. In a report issued on July 22, J.P. Morgan also maintained a Buy rating on the stock with a $34.00 price target.
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Based on General Motors’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $32.71 billion and net profit of $294 million. In comparison, last year the company earned revenue of $34.88 billion and had a net profit of $2.16 billion.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc. The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial. It sells vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Wuling, Maven, and OnStar brands. The company was founded by William C. Durant on September 16, 1908 and is headquartered in Detroit, MI.
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