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

Key Points

• Zacks Research downgraded Garrett Motion from “strong buy” to “hold,” though the broader analyst consensus remains “Moderate Buy” with a $38.20 target price.
• Garrett Motion shares opened at $25.78, near the lower end of their 12-month range of $12.26 to $36.25. The company’s latest quarterly results beat expectations, with $0.53 in EPS versus the $0.46 consensus and revenue of $976 million.
• Institutional investors own 86.27% of the stock, while insider ownership is 1.10%; senior vice president Daniel Deiro recently sold 20,000 shares under a pre-arranged trading plan.

Garrett Motion (NASDAQ:GTX - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

A number of other research firms also recently issued reports on GTX. Wall Street Zen downgraded shares of Garrett Motion from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Thursday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of Garrett Motion from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, September 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Garrett Motion in a report on Friday, July 24th. Finally, BWS Financial reissued a "buy" rating and issued a $42.00 target price on shares of Garrett Motion in a research report on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Garrett Motion currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.20.

Garrett Motion Trading Up 0.1%

Shares of GTX opened at $25.78 on Monday. The firm has a market cap of $4.81 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.66 and a beta of 0.83. 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 $27.08 and its 200 day moving average price is $28.00.

Garrett Motion (NASDAQ:GTX - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. The company had revenue of $976.00 million for 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 period in the previous year, the company earned $0.42 EPS. Equities research analysts forecast that Garrett Motion will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Daniel Deiro sold 20,000 shares of the company's 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 sale, the senior vice president directly owned 113,783 shares of the company's stock, valued at $3,059,624.87. This represents a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Garrett Motion during the 2nd quarter worth approximately $461,794,000. Dimensional Fund Advisors LP raised its holdings in shares of Garrett Motion by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,504,855 shares of the company's stock valued at $63,677,000 after purchasing an additional 237,508 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Garrett Motion in the 2nd quarter valued at $117,127,000. Apis Capital Advisors LLC lifted its position in shares of Garrett Motion by 1,492.9% during the 4th quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company's stock worth $38,869,000 after purchasing an additional 2,090,000 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its position in shares of Garrett Motion by 302.7% during the 3rd quarter. Copeland Capital Management LLC now owns 2,227,662 shares of the company's stock worth $57,986,000 after purchasing an additional 1,674,435 shares during 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 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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