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

Garrett Motion (NASDAQ:GTX)‘s stock had its “buy” rating reissued by analysts at BWS Financial in a research report issued on Thursday, Benzinga reports. They currently have a $42.00 price target on the stock. BWS Financial’s price objective points to a potential upside of 63.11% from the company’s previous close.

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

Garrett Motion Price Performance

Shares of NASDAQ:GTX traded down $0.12 during trading hours on Thursday, hitting $25.75. 2,580,371 shares of the company’s stock traded hands, compared to its average volume of 2,613,496. Garrett Motion has a 1 year low of $12.26 and a 1 year high of $36.25. The business has a fifty day moving average price of $27.49 and a 200-day moving average price of $27.77. The firm has a market capitalization of $4.80 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.67 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The business had revenue of $976.00 million during the quarter. During the same quarter last year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Garrett Motion will post 1.92 earnings per share for the current year.

Insider Buying and Selling at Garrett Motion

In other news, SVP Daniel Deiro sold 20,000 shares of Garrett Motion 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 sale, the senior vice president owned 113,783 shares of the company’s stock, valued at approximately $3,059,624.87. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Garrett Motion by 54.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,397 shares of the company’s stock worth $14,434,000 after buying an additional 140,254 shares in the last quarter. Castleark Management LLC bought a new position in Garrett Motion in the second quarter worth approximately $17,009,000. Jupiter Topco LLC bought a new position in Garrett Motion in the second quarter worth approximately $2,847,000. The Manufacturers Life Insurance Company bought a new position in Garrett Motion in the second quarter worth approximately $3,429,000. Finally, Bank of America Corp DE bought a new position in Garrett Motion in the second quarter worth approximately $45,490,000. 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.