Garrett Motion (NASDAQ:GTX) Upgraded at Freedom Broker

Garrett Motion (NASDAQ:GTX) was upgraded by equities researchers at Freedom Broker from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a $31.00 target price on the stock, down from their prior target price of $34.00. Freedom Broker‘s price objective points to a potential upside of 48.25% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 15th. BWS Financial restated a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, October 8th. Wall Street Zen downgraded shares of Garrett Motion from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Garrett Motion Stock Performance

Shares of NASDAQ:GTX opened at $20.91 on Friday. Garrett Motion has a 52 week low of $15.54 and a 52 week high of $36.25. The firm’s 50 day moving average is $25.54 and its two-hundred day moving average is $25.34. The firm has a market capitalization of $3.90 billion, a P/E ratio of 10.72, a PEG ratio of 0.63 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Garrett Motion had a negative return on equity of 52.43% and a net margin of 9.97%. The business had revenue of $930.00 million for the quarter. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Analysts predict that Garrett Motion will post 1.88 EPS for the current year.

Insider Buying and Selling

In other news, SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $26.89, for a total transaction of $537,800.00. Following the transaction, the senior vice president owned 113,783 shares in the company, valued at $3,059,624.87. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTX. Convergence Investment Partners LLC increased its position in shares of Garrett Motion by 0.9% during the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock worth $835,000 after purchasing an additional 423 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Garrett Motion by 39.6% during the third quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after purchasing an additional 476 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Garrett Motion by 22.3% during 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 period. Persistent Asset Partners Ltd acquired a new position in shares of Garrett Motion during the 2nd quarter worth approximately $27,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Garrett Motion by 2.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock worth $707,000 after acquiring an additional 995 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

Garrett Motion Company Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.