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

Garrett Motion (NASDAQ:GTX) was downgraded by 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.

Several other research firms have also recently issued reports on GTX. JPMorgan Chase & Co. lowered their price objective on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, September 15th. BWS Financial restated a “buy” rating and set a $42.00 target price on shares of Garrett Motion in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and increased their price target for the company 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 report on Friday, July 24th. Finally, Zacks Research upgraded shares of 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 given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion has an average rating of “Buy” and an average target price of $38.20.

Garrett Motion Stock Performance

Garrett Motion stock opened at $27.07 on Friday. The stock has a market cap of $5.05 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.70 and a beta of 0.83. The company has a fifty day simple moving average of $27.71 and a 200-day simple moving average of $27.59. Garrett Motion has a 12-month low of $12.26 and a 12-month high of $36.25.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The firm had revenue of $976.00 million for the quarter. During the same period last year, the company earned $0.42 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Garrett Motion will post 1.91 earnings per share for the current fiscal year.

Insider Transactions at Garrett Motion

In related news, SVP Daniel Deiro sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 $3,572,006.10. This trade represents a 18.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new stake in Garrett Motion in the 2nd quarter valued at $942,000. Integrated Wealth Concepts LLC purchased a new position in Garrett Motion during the 2nd quarter worth $328,000. Nykredit A S acquired a new position in Garrett Motion in the second quarter valued at $172,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Garrett Motion in the second quarter valued at about $1,235,000. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Garrett Motion by 9.3% in the second quarter. TD Waterhouse Canada Inc. now owns 36,044 shares of the company’s stock valued at $1,210,000 after buying an additional 3,057 shares during the last quarter. Hedge funds and other 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.