Garrett Motion (NASDAQ:GTX) Stock Bumped Up to Buy by Freedom Broker

Garrett Motion (NASDAQ:GTX) was upgraded by stock analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a $31.00 price target on the stock, down from their previous price target of $34.00. Freedom Broker‘s price target suggests a potential upside of 48.25% from the stock’s current price.

Several other equities analysts have also issued reports on GTX. BWS Financial reaffirmed a “buy” rating and issued a $42.00 price target on shares of Garrett Motion in a report on Thursday, October 8th. JPMorgan Chase & Co. dropped their target price on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and upped their target price for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Weiss Ratings lowered Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.00.

Garrett Motion Stock Performance

NASDAQ:GTX opened at $20.91 on Friday. The firm has a market cap of $3.90 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.63 and a beta of 0.83. Garrett Motion has a fifty-two week low of $15.54 and a fifty-two week high of $36.25. The firm has a 50-day simple moving average of $25.54 and a two-hundred day simple moving average of $25.34.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $930.00 million during the quarter. Garrett Motion had a negative return on equity of 52.43% and a net margin of 9.97%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities research analysts predict that Garrett Motion will post 1.88 EPS for the current year.

Insider Activity at Garrett Motion

In other news, SVP Daniel Deiro sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $26.89, for a total value of $537,800.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Garrett Motion in the second quarter worth about $461,794,000. William Blair Investment Management LLC purchased a new stake in Garrett Motion during the 2nd quarter worth $117,127,000. Dimensional Fund Advisors LP lifted its holdings in Garrett Motion by 7.3% in the 1st 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 in the last quarter. Copeland Capital Management LLC lifted its holdings in Garrett Motion by 302.7% in the 3rd quarter. Copeland Capital Management LLC now owns 2,227,662 shares of the company’s stock worth $57,986,000 after buying an additional 1,674,435 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Garrett Motion by 367.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,190,064 shares of the company’s stock valued at $57,007,000 after buying an additional 1,721,418 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

About Garrett Motion

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.