Garrett Motion (NASDAQ:GTX) Given “Buy” Rating at BWS Financial

Garrett Motion (NASDAQ:GTX)‘s stock had its “buy” rating reiterated by research analysts at BWS Financial in a research note issued to investors on Thursday, Benzinga reports. They presently have a $42.00 price target on the stock. BWS Financial’s target price would suggest a potential upside of 62.66% from the stock’s previous close.

Several other research firms have also issued reports on GTX. JPMorgan Chase & Co. lowered their price target on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, September 15th. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and raised their price target for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Finally, Wall Street Zen cut Garrett Motion from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $38.20.

Garrett Motion Stock Performance

Shares of NASDAQ GTX traded down $0.05 during mid-day trading on Thursday, hitting $25.82. 862,084 shares of the stock traded hands, compared to its average volume of 2,606,825. The stock has a fifty day moving average price of $27.49 and a 200-day moving average price of $27.77. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.67 and a beta of 0.83. Garrett Motion has a 52 week low of $12.26 and a 52 week high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. As a group, sell-side analysts predict that Garrett Motion will post 1.92 EPS for the current fiscal year.

Insider Activity at Garrett Motion

In other news, SVP Daniel Deiro sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total transaction of $537,800.00. Following the completion of the transaction, the senior vice president directly owned 113,783 shares of the company’s stock, valued at $3,059,624.87. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new position in shares of Garrett Motion during the 2nd quarter valued at $942,000. Integrated Wealth Concepts LLC purchased a new position in shares of Garrett Motion in the 2nd quarter worth $328,000. Nykredit A S bought a new stake in shares of Garrett Motion in the second quarter worth $172,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Garrett Motion in the second quarter worth $1,235,000. Finally, TD Waterhouse Canada Inc. increased its position in Garrett Motion by 9.3% during the second quarter. TD Waterhouse Canada Inc. now owns 36,044 shares of the company’s stock valued at $1,210,000 after acquiring an additional 3,057 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.