Garrett Motion (NASDAQ:GTX) Rating Lowered to “Hold” at Zacks Research

Garrett Motion (NASDAQ:GTX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. JPMorgan Chase & Co. reduced their price target on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and raised their price target for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Garrett Motion from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Finally, BWS Financial reiterated a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a report on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Garrett Motion Stock Performance

Shares of GTX opened at $25.78 on Monday. The firm has a market cap of $4.81 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.66 and a beta of 0.83. Garrett Motion has a 52-week low of $12.26 and a 52-week high of $36.25. The business’s 50 day moving average price is $27.08 and its two-hundred day moving average price is $28.00.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. Research analysts predict that Garrett Motion will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In related news, SVP Daniel Deiro sold 30,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total value of $801,000.00. Following the transaction, the senior vice president directly owned 133,783 shares in the company, valued at $3,572,006.10. This trade represents a 18.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.

Institutional Trading of Garrett Motion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Convergence Investment Partners LLC grew its holdings in shares of Garrett Motion by 0.9% during the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after buying an additional 423 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Garrett Motion by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after acquiring an additional 476 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Garrett Motion by 22.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after acquiring an additional 629 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Garrett Motion in the 2nd quarter worth about $27,000. Finally, Baron Wealth Management LLC lifted its position in Garrett Motion by 3.3% in the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after acquiring an additional 878 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.