Stifel Nicolaus Forecasts Strong Price Appreciation for Garrett Motion (NYSE:GTX) Stock

Garrett Motion (NYSE:GTX) had its price target boosted by investment analysts at Stifel Nicolaus from $20.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 24.87% from the stock’s current price.

A number of other equities analysts have also commented on GTX. Deutsche Bank Aktiengesellschaft began coverage on shares of Garrett Motion in a research note on Monday, October 20th. They issued a “hold” rating and a $14.00 price objective for the company. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, BWS Financial increased their price objective on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Garrett Motion currently has an average rating of “Buy” and a consensus target price of $17.75.

Garrett Motion Stock Down 0.3%

Shares of NYSE GTX traded down $0.05 during mid-day trading on Tuesday, hitting $16.82. 399,298 shares of the company traded hands, compared to its average volume of 2,398,657. Garrett Motion has a 1 year low of $7.01 and a 1 year high of $17.91. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.23 and a beta of 0.23. The business has a 50 day moving average of $15.81 and a two-hundred day moving average of $13.41.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, research analysts anticipate that Garrett Motion will post 1.25 EPS for the current year.

Garrett Motion declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cambria Investment Management L.P. boosted its holdings in Garrett Motion by 1,502.7% during the third quarter. Cambria Investment Management L.P. now owns 739,593 shares of the company’s stock valued at $10,073,000 after acquiring an additional 693,445 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Garrett Motion in the 3rd quarter valued at approximately $195,000. Yorkville Advisors Global LP bought a new position in Garrett Motion during the third quarter worth $11,168,000. Caxton Associates LLP raised its stake in Garrett Motion by 630.9% during the 3rd quarter. Caxton Associates LLP now owns 236,572 shares of the company’s stock valued at $3,222,000 after purchasing an additional 204,206 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Garrett Motion by 85.7% during the third quarter. XTX Topco Ltd now owns 94,500 shares of the company’s stock worth $1,287,000 after buying an additional 43,607 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.