Bank of America upgraded shares of Garrett Motion (NYSE:GTX) from an underperform rating to a neutral rating in a research report sent to investors on Friday, BenzingaRatingsTable reports. The firm currently has $22.00 price target on the stock.
Other research analysts have also issued reports about the stock. UBS Group reduced their target price on shares of Garrett Motion from $12.00 to $9.00 and set a sell rating on the stock in a report on Thursday, September 12th. Royal Bank of Canada set a $14.00 price objective on shares of Garrett Motion and gave the company a hold rating in a research note on Wednesday, July 31st. Barclays set a $16.00 price objective on shares of Garrett Motion and gave the company a hold rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded shares of Garrett Motion from a hold rating to a sell rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley began coverage on shares of Garrett Motion in a research note on Tuesday, September 10th. They set an underweight rating and a $8.00 price objective for the company. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $14.29.
NYSE:GTX opened at $12.28 on Friday. The firm has a market cap of $918.57 million and a price-to-earnings ratio of 3.03. The company’s 50-day moving average is $11.48 and its two-hundred day moving average is $15.02. Garrett Motion has a 12-month low of $9.31 and a 12-month high of $22.00.
Garrett Motion (NYSE:GTX) last released its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. The company had revenue of $802.00 million for the quarter, compared to analyst estimates of $831.99 million. Garrett Motion had a net margin of 34.50% and a negative return on equity of 44.81%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.03 EPS. As a group, equities analysts predict that Garrett Motion will post 3.38 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of GTX. Bank of Montreal Can acquired a new position in shares of Garrett Motion during the 1st quarter valued at about $233,000. Rhumbline Advisers increased its stake in shares of Garrett Motion by 3.3% during the 1st quarter. Rhumbline Advisers now owns 189,191 shares of the company’s stock valued at $2,787,000 after acquiring an additional 6,124 shares during the last quarter. Comerica Bank increased its stake in shares of Garrett Motion by 1.1% during the 1st quarter. Comerica Bank now owns 74,193 shares of the company’s stock valued at $1,235,000 after acquiring an additional 818 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Garrett Motion by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 50,256 shares of the company’s stock valued at $740,000 after acquiring an additional 1,820 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Garrett Motion by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 136,109 shares of the company’s stock valued at $2,005,000 after acquiring an additional 990 shares during the last quarter. 84.10% of the stock is owned by institutional investors.
Garrett Motion Company Profile
Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.
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