BWS Financial Increases Garrett Motion (NASDAQ:GTX) Price Target to $42.00

Garrett Motion (NASDAQ:GTX) had its price target hoisted by equities research analysts at BWS Financial from $32.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BWS Financial’s target price points to a potential upside of 30.67% from the stock’s current price.

A number of other equities analysts have also recently commented on GTX. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st. Weiss Ratings assumed coverage on Garrett Motion in a research note on Wednesday, April 29th. They set a “buy (b)” rating on the stock. Finally, Stifel Nicolaus increased their price target on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Garrett Motion Stock Up 4.7%

GTX traded up $1.44 during trading on Thursday, reaching $32.14. The company had a trading volume of 505,923 shares, compared to its average volume of 2,499,160. The business has a 50 day simple moving average of $21.46 and a 200-day simple moving average of $19.22. The stock has a market cap of $6.02 billion, a P/E ratio of 18.80, a PEG ratio of 0.99 and a beta of 0.70. Garrett Motion has a 52 week low of $9.57 and a 52 week high of $32.44.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The business had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $917.23 million. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts expect that Garrett Motion will post 1.83 EPS for the current fiscal year.

Insider Activity at Garrett Motion

In related news, Director Julia Steyn sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total value of $337,620.00. Following the completion of the sale, the director owned 50,233 shares in the company, valued at approximately $997,627.38. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the completion of the transaction, the senior vice president directly owned 160,994 shares in the company, valued at approximately $3,266,568.26. This trade represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 354,178 shares of company stock valued at $7,375,587 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Garrett Motion

Institutional investors and hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its position in shares of Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after buying an additional 1,422 shares in the last quarter. Spire Wealth Management grew its holdings in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion in the 1st quarter valued at about $42,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Company Profile

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.