Garrett Motion (NASDAQ:GTX) Stock Rating Upgraded by Zacks Research

Garrett Motion (NASDAQ:GTX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

A number of other equities analysts have also commented on the stock. Stifel Nicolaus raised their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a report on Thursday, May 21st. Wall Street Zen lowered Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Garrett Motion has a consensus rating of “Buy” and an average target price of $38.60.

Garrett Motion Trading Down 1.8%

NASDAQ GTX opened at $27.49 on Tuesday. The stock has a market cap of $5.13 billion, a PE ratio of 15.10, a PEG ratio of 0.72 and a beta of 0.79. Garrett Motion has a 12 month low of $12.26 and a 12 month high of $36.25. The company’s 50-day moving average price is $29.65 and its 200-day moving average price is $26.72.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company 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%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, sell-side analysts forecast that Garrett Motion will post 1.91 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Daniel Deiro sold 30,000 shares of Garrett Motion stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total value of $801,000.00. Following the transaction, the senior vice president directly owned 133,783 shares in the company, valued at approximately $3,572,006.10. This trade 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Rodrigues sold 10,516 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the completion of the transaction, the senior vice president directly owned 83,178 shares of the company’s stock, valued at approximately $2,813,079.96. The trade was a 11.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 66,656 shares of company stock worth $1,898,913. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

A number of large investors have recently added to or reduced their stakes in GTX. Convergence Investment Partners LLC boosted its holdings in shares of Garrett Motion by 0.9% in the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after buying an additional 423 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Garrett Motion by 22.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after acquiring an additional 629 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in Garrett Motion during the second quarter valued at approximately $27,000. Baron Wealth Management LLC boosted its stake in Garrett Motion by 3.3% in the first quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after acquiring an additional 878 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

About Garrett Motion

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.