Garrett Motion (NASDAQ:GTX) Price Target Raised to $42.00 at BWS Financial

Key Points

• BWS Financial raised its price target on Garrett Motion from $32 to $42 and kept a buy rating, implying about 30.7% upside from the current price.
• Other analysts have also been mostly positive: Stifel and JPMorgan lifted their targets, while the current Street consensus is a Moderate Buy with an average price target of $29.80.
• Garrett Motion reported better-than-expected Q1 results, with EPS of $0.49 and revenue of $985 million, both above estimates, while the stock recently traded near its 52-week high.

Garrett Motion (NASDAQ:GTX - Get Free Report) had its target price increased by equities research analysts at BWS Financial from $32.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BWS Financial's target price would suggest a potential upside of 30.67% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus increased their price target on Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Freedom Capital lowered Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their target price on Garrett Motion from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. Finally, Weiss Ratings initiated coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a "buy (b)" rating for the company. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.80.

Garrett Motion Price Performance

Shares of NASDAQ:GTX traded up $1.44 during mid-day trading on Thursday, reaching $32.14. 505,923 shares of the company traded hands, compared to its average volume of 2,499,160. The company's 50 day moving average price is $21.46 and its 200-day moving average price is $19.22. The firm has a market cap of $6.02 billion, a PE ratio of 18.80, a PEG ratio of 0.99 and a beta of 0.70. Garrett Motion has a 52 week low of $9.57 and a 52 week high of $32.44.

Garrett Motion (NASDAQ:GTX - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm had revenue of $985.00 million during the quarter, compared to analysts' expectations of $917.23 million. Garrett Motion's revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts predict that Garrett Motion will post 1.83 earnings per share for the current fiscal year.

Insider Transactions at Garrett Motion

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the sale, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. The trade was a 12.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Steyn sold 17,000 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction of $337,620.00. Following the sale, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. The trade was a 25.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 354,178 shares of company stock valued at $7,375,587 over the last 90 days. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors have recently bought and sold shares of GTX. Arete Wealth Advisors LLC bought a new stake in shares of Garrett Motion in the 1st quarter worth about $224,000. Janus Henderson Group PLC lifted its holdings in shares of Garrett Motion by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 78,600 shares of the company's stock valued at $1,429,000 after acquiring an additional 14,300 shares during the last quarter. California State Teachers Retirement System grew its position in Garrett Motion by 50.2% in the first quarter. California State Teachers Retirement System now owns 202,555 shares of the company's stock worth $3,680,000 after acquiring an additional 67,740 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Garrett Motion by 2.5% in the first quarter. The Manufacturers Life Insurance Company now owns 88,693 shares of the company's stock worth $1,612,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in Garrett Motion by 25.7% during the first quarter. Quantinno Capital Management LP now owns 16,703 shares of the company's stock worth $303,000 after acquiring an additional 3,415 shares during the last quarter. 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.

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