Garrett Motion (NASDAQ:GTX) Earns Buy Rating from BWS Financial

Key Points

• BWS Financial reiterated a “buy” rating on Garrett Motion and set a $42 price target, implying approximately 63% upside from the stock’s $25.72 price.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average target price of $38.20, despite some firms maintaining or issuing more cautious views.
• Garrett Motion reported quarterly earnings of $0.53 per share, exceeding estimates of $0.46, while revenue rose 6.9% year over year to $976 million.

Garrett Motion (NASDAQ:GTX - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at BWS Financial in a note issued to investors on Thursday, Benzinga reports. They currently have a $42.00 price target on the stock. BWS Financial's target price suggests a potential upside of 63.33% from the stock's current price.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Garrett Motion from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Garrett Motion in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft upgraded 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 note on Thursday, July 30th. JPMorgan Chase & Co. dropped their price objective on Garrett Motion from $37.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, September 15th. Finally, Zacks Research upgraded Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $38.20.

Garrett Motion Trading Down 0.6%

GTX stock traded down $0.16 during midday trading on Thursday, hitting $25.72. The stock had a trading volume of 1,086,402 shares, compared to its average volume of 2,607,724. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 0.67 and a beta of 0.83. Garrett Motion has a 52 week low of $12.26 and a 52 week high of $36.25. The stock has a 50-day simple moving average of $27.49 and a 200 day simple moving average of $27.77.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The firm had revenue of $976.00 million during the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. On average, equities analysts forecast that Garrett Motion will post 1.92 EPS for the current year.

Insider Transactions at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 30,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the transaction, the senior vice president owned 133,783 shares in the company, valued at approximately $3,572,006.10. This trade represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors have recently modified their holdings of the business. Persistent Asset Partners Ltd acquired a new stake in Garrett Motion in the 2nd quarter valued at approximately $27,000. Allworth Financial LP acquired a new position in shares of Garrett Motion during the 2nd quarter worth approximately $64,000. Global Retirement Partners LLC acquired a new position in shares of Garrett Motion during the 2nd quarter worth approximately $65,000. Summit Securities Group LLC acquired a new position in shares of Garrett Motion during the 1st quarter worth approximately $60,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Garrett Motion by 22.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company's stock worth $63,000 after acquiring an additional 629 shares during the last quarter. Institutional investors own 86.27% of the company's stock.

About Garrett Motion

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.