Garrett Motion’s (GTX) “Buy” Rating Reaffirmed at BWS Financial

Garrett Motion (NASDAQ:GTX)‘s stock had its “buy” rating reaffirmed by equities researchers at BWS Financial in a note issued to investors on Thursday, Benzinga reports. They currently have a $42.00 target price on the stock. BWS Financial’s price objective points to a potential upside of 63.95% from the stock’s current price.

GTX has been the subject of a number of other research reports. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. cut their price objective on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, September 15th. Wall Street Zen lowered Garrett Motion from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised 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 research note on Thursday, July 30th. One equities research 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 company. According to MarketBeat.com, Garrett Motion has an average rating of “Buy” and an average target price of $38.20.

Garrett Motion Stock Down 0.6%

Shares of NASDAQ:GTX traded down $0.14 during trading on Thursday, reaching $25.62. The stock had a trading volume of 162,284 shares, compared to its average volume of 2,606,962. The business has a fifty day moving average price of $27.19 and a 200-day moving average price of $27.95. The stock has a market cap of $4.78 billion, a P/E ratio of 14.04, a PEG ratio of 0.67 and a beta of 0.83. Garrett Motion has a fifty-two week low of $12.26 and a fifty-two week high of $36.25.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The business 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. As a group, equities analysts forecast that Garrett Motion will post 1.92 EPS for the current year.

Insider Transactions at Garrett Motion

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 value of $537,800.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

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

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.