Garrett Motion (NASDAQ:GTX) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Garrett Motion from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” with an average price target of $38.20.
• Garrett Motion shares opened at $27.07, up 3.1%, and the company recently exceeded quarterly EPS expectations, reporting $0.53 versus the $0.46 consensus; revenue increased 6.9% year over year to $976 million.
• Institutional ownership is substantial at 86.27% of shares, while insider ownership stands at 1.10%; an executive recently sold 20,000 shares under a pre-arranged trading plan.

Garrett Motion (NASDAQ:GTX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

GTX has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a "hold" rating to a "buy" rating and increased their price target for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Garrett Motion in a research note on Friday, July 24th. BWS Financial restated a "buy" rating and set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, July 30th. JPMorgan Chase & Co. dropped their price target on Garrett Motion from $37.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 15th. Finally, Zacks Research upgraded Garrett Motion from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 8th. One equities 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.com, Garrett Motion has a consensus rating of "Buy" and an average price target of $38.20.

Garrett Motion Stock Up 3.1%

Shares of GTX stock opened at $27.07 on Friday. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.67 and a beta of 0.84. The stock has a fifty day moving average of $27.71 and a 200 day moving average of $27.51. Garrett Motion has a 52 week low of $12.26 and a 52 week high of $36.25.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business had revenue of $976.00 million for the quarter. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Garrett Motion will post 1.91 earnings per share for the current year.

Insider Activity

In related news, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total transaction of $537,800.00. Following the transaction, the senior vice president owned 113,783 shares in the company, valued at $3,059,624.87. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Garrett Motion

A number of hedge funds have recently added to or reduced their stakes in GTX. BlackRock Inc. purchased a new position in shares of Garrett Motion in the 2nd quarter worth $461,794,000. Arrowstreet Capital Limited Partnership raised its position in shares of Garrett Motion by 170.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company's stock valued at $89,580,000 after buying an additional 3,241,952 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Garrett Motion in the 2nd quarter valued at about $117,127,000. Apis Capital Advisors LLC lifted its holdings in shares of Garrett Motion by 1,492.9% in the 4th quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company's stock valued at $38,869,000 after acquiring an additional 2,090,000 shares during the last quarter. Finally, Norges Bank purchased a new position in Garrett Motion in the fourth quarter worth about $29,237,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Company Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.

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