Wells Fargo Sticks to Their Sell Rating for General Motors (GM)

In a report released today, Colin Langan from Wells Fargo maintained a Sell rating on General Motors, with a price target of $40.00. The company’s shares closed yesterday at $59.36.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

According to TipRanks, Langan is an analyst with an average return of -5.5% and a 47.82% success rate. Langan covers the Consumer Cyclical sector, focusing on stocks such as Dana Incorporated, BorgWarner, and Visteon.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for General Motors with a $64.22 average price target.

Based on General Motors’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $47.12 billion and a net profit of $1.9 billion. In comparison, last year the company earned a revenue of $47.97 billion and had a net profit of $2.93 billion

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GM in relation to earlier this year. Last month, Rory Harvey, the EVP of GM sold 6,600.00 shares for a total of $408,870.00.