Garrett Motion (NASDAQ:GTX) Stock Rating Reaffirmed as Buy by BWS Financial

Garrett Motion (NASDAQ:GTX)‘s stock had its “buy” rating reiterated by BWS Financial in a note issued to investors on Thursday, Benzinga reports. They currently have a $42.00 price target on the stock. BWS Financial’s price target indicates a potential upside of 64.15% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $36.00 in a report on Thursday, July 30th. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of Garrett Motion from a “buy” rating to a “hold” rating in a 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Garrett Motion currently has a consensus rating of “Buy” and a consensus target price of $38.20.

Garrett Motion Stock Performance

GTX stock opened at $25.59 on Thursday. Garrett Motion has a one year low of $12.26 and a one year high of $36.25. The company’s fifty day moving average price is $27.39 and its 200-day moving average price is $27.83. The company has a market capitalization of $4.77 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 0.66 and a beta of 0.83.

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, topping the consensus estimate of $0.46 by $0.07. The business had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. On average, research analysts predict that Garrett Motion will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the firm’s 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. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently made changes to their positions in the company. Persistent Asset Partners Ltd acquired a new stake in shares of Garrett Motion in the second quarter valued at $27,000. Farther Finance Advisors LLC increased its holdings in shares of 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 acquiring an additional 476 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Garrett Motion during the 2nd quarter valued at about $64,000. Global Retirement Partners LLC acquired a new position in shares of Garrett Motion during the 2nd quarter valued at about $65,000. Finally, Summit Securities Group LLC acquired a new position in shares of Garrett Motion during the 1st quarter valued at about $60,000. 86.27% of the stock is currently owned by institutional investors.

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.