Garrett Motion (NASDAQ:GTX) Stock Rating Lowered by Wall Street Zen

Garrett Motion (NASDAQ:GTX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities research analysts have also recently issued reports on GTX. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings initiated coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating for the company. JPMorgan Chase & Co. upped their price objective on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.40.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $31.77 on Friday. The business’s 50 day moving average price is $32.66 and its 200 day moving average price is $24.00. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.93 and a beta of 0.78. Garrett Motion has a one year low of $11.43 and a one year high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion’s revenue was up 12.2% on a year-over-year basis. On average, analysts predict that Garrett Motion will post 1.82 EPS for the current fiscal year.

Insider Activity

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 6,140 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total transaction of $204,462.00. Following the sale, the senior vice president owned 77,038 shares of the company’s stock, valued at approximately $2,565,365.40. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of Garrett Motion stock in a transaction on Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the sale, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. This represents a 32.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 213,834 shares of company stock valued at $6,918,710 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its stake in Garrett Motion by 62.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 53,000 shares of the company’s stock worth $1,920,000 after purchasing an additional 20,400 shares during the period. Franklin Street Advisors Inc. NC acquired a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $234,000. Longboard Asset Management LP acquired a new stake in Garrett Motion in the second quarter valued at $203,000. Assenagon Asset Management S.A. boosted its holdings in Garrett Motion by 126.8% during the second quarter. Assenagon Asset Management S.A. now owns 468,646 shares of the company’s stock worth $16,979,000 after buying an additional 261,986 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its stake in shares of Garrett Motion by 5.1% during the 2nd quarter. Baron Wealth Management LLC now owns 28,723 shares of the company’s stock worth $1,041,000 after acquiring an additional 1,399 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.