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

Garrett Motion (NASDAQ:GTX)‘s stock had its “buy” rating reaffirmed by BWS Financial in a report released on Thursday, Benzinga reports. They currently have a $42.00 price objective on the stock. BWS Financial’s price objective suggests a potential upside of 60.06% from the stock’s current price.

GTX has been the topic of several other reports. JPMorgan Chase & Co. lowered their price objective on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Wall Street Zen cut Garrett Motion from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Finally, Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Garrett Motion currently has a consensus rating of “Buy” and an average target price of $38.20.

Garrett Motion Price Performance

GTX stock traded up $0.49 during trading on Thursday, hitting $26.24. 1,249,368 shares of the stock traded hands, compared to its average volume of 2,608,775. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 0.66 and a beta of 0.83. Garrett Motion has a 1 year low of $12.26 and a 1 year high of $36.25. The firm’s 50 day moving average is $27.39 and its two-hundred day moving average is $27.83.

Garrett Motion (NASDAQ:GTX) last issued its 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. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm had revenue of $976.00 million for the quarter. During the same quarter in the prior year, the company posted $0.42 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Garrett Motion will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In related news, SVP Daniel Deiro sold 30,000 shares of the 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 sale, the senior vice president directly owned 133,783 shares of the company’s stock, valued at approximately $3,572,006.10. This represents a 18.32% decrease in their position. The transaction 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. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Garrett Motion

A number of hedge funds have recently modified their holdings of GTX. Convergence Investment Partners LLC increased its stake in Garrett Motion by 0.9% during the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock worth $835,000 after acquiring an additional 423 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Garrett Motion by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after purchasing an additional 476 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Garrett Motion by 22.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after purchasing an additional 629 shares during the period. Persistent Asset Partners Ltd bought a new position in shares of Garrett Motion during the 2nd quarter valued at approximately $27,000. Finally, Baron Wealth Management LLC increased its position in shares of Garrett Motion by 3.3% during the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after purchasing an additional 878 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Company Profile

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.