Garrett Motion (NASDAQ:GTX) Earns “Buy” Rating from BWS Financial

Garrett Motion (NASDAQ:GTX)‘s stock had its “buy” rating reaffirmed by investment analysts at BWS Financial in a research note issued on Thursday, Benzinga reports. They currently have a $42.00 price target on the stock. BWS Financial’s target price suggests a potential upside of 64.24% from the company’s previous close.

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

Garrett Motion Price Performance

GTX stock traded down $0.19 during trading on Thursday, reaching $25.57. 132,561 shares of the company were exchanged, compared to its average volume of 2,606,769. The company has a 50-day moving average of $27.19 and a two-hundred day moving average of $27.95. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.67 and a beta of 0.83. Garrett Motion has a twelve month low of $12.26 and a twelve month high of $36.25.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping 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%. Garrett Motion’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, analysts forecast that Garrett Motion will post 1.92 EPS for the current year.

Insider Transactions at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total value of $801,000.00. Following the completion of the transaction, the senior vice president directly owned 133,783 shares in the company, valued at approximately $3,572,006.10. This represents a 18.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Garrett Motion during the second quarter worth $461,794,000. Arrowstreet Capital Limited Partnership increased its position in shares of Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after buying an additional 3,241,952 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Garrett Motion by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,504,855 shares of the company’s stock worth $63,677,000 after buying an additional 237,508 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Garrett Motion during the second quarter worth $117,127,000. Finally, Apis Capital Advisors LLC increased its position in shares of Garrett Motion by 1,492.9% during the fourth quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company’s stock worth $38,869,000 after buying an additional 2,090,000 shares during the period. 86.27% of the stock is currently 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.