Zacks Investment Research downgraded shares of Garrett Motion (NYSE:GTX) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Garrett Motion Inc. provides transportation systems. The Company offers turbochargers, engines, diesel tank and other related parts. Garrett Motion Inc. is based in Switzerland. “

A number of other research firms have also issued reports on GTX. Barclays reissued a hold rating on shares of Garrett Motion in a report on Thursday, February 21st. Jefferies Financial Group reissued a hold rating and issued a $17.00 target price on shares of Garrett Motion in a report on Thursday, February 21st. Royal Bank of Canada raised Garrett Motion from an underperform rating to a sector perform rating and boosted their target price for the company from $11.00 to $15.00 in a report on Wednesday, January 23rd. Finally, Desjardins lowered Garrett Motion to a buy rating in a report on Wednesday, January 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Garrett Motion has an average rating of Hold and a consensus target price of $15.00.

GTX traded up $0.02 during trading on Wednesday, hitting $16.65. 180 shares of the stock were exchanged, compared to its average volume of 637,774. The firm has a market cap of $1.20 billion and a price-to-earnings ratio of 4.12. Garrett Motion has a 1-year low of $11.01 and a 1-year high of $22.00.

Garrett Motion (NYSE:GTX) last released its earnings results on Wednesday, February 20th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. The company had revenue of $799.00 million during the quarter, compared to analyst estimates of $781.48 million. Garrett Motion’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts predict that Garrett Motion will post 3.3 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Financial Advocates Investment Management purchased a new stake in Garrett Motion during the fourth quarter worth $669,000. Lenox Wealth Management Inc. purchased a new stake in Garrett Motion during the fourth quarter worth $89,000. Exane Derivatives purchased a new stake in Garrett Motion during the fourth quarter worth $25,000. First Manhattan Co. purchased a new stake in Garrett Motion during the fourth quarter worth $26,000. Finally, AdvisorNet Financial Inc purchased a new stake in Garrett Motion during the fourth quarter worth $30,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

About Garrett Motion

Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.

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