Garrett Motion (NASDAQ:GTX) Stock Rating Upgraded by Freedom Broker

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

Several other brokerages have also recently issued reports on GTX. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings lowered shares of Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Garrett Motion from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Garrett Motion Price Performance

Shares of GTX stock opened at $20.91 on Friday. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.63 and a beta of 0.83. Garrett Motion has a 1 year low of $15.54 and a 1 year high of $36.25. The business has a fifty day moving average of $25.54 and a 200 day moving average of $25.34.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $930.00 million for the quarter. Garrett Motion had a negative return on equity of 52.43% and a net margin of 9.97%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. As a group, equities research analysts expect that Garrett Motion will post 1.88 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Daniel Deiro sold 30,000 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 133,783 shares in the company, valued at approximately $3,572,006.10. This represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds have recently modified their holdings of GTX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Garrett Motion by 54.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,397 shares of the company’s stock valued at $14,434,000 after purchasing an additional 140,254 shares in the last quarter. Castleark Management LLC purchased a new position in Garrett Motion in the second quarter valued at approximately $17,009,000. The Manufacturers Life Insurance Company acquired a new position in Garrett Motion during the second quarter valued at approximately $3,429,000. Jupiter Topco LLC purchased a new stake in Garrett Motion during the second quarter worth approximately $2,847,000. Finally, Bank of America Corp DE purchased a new stake in Garrett Motion during the second quarter worth approximately $45,490,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Company Profile

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.