Stifel Nicolaus Boosts Garrett Motion (NYSE:GTX) Price Target to $21.00

Garrett Motion (NYSE:GTX) had its target price lifted by Stifel Nicolaus from $20.00 to $21.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 25.15% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. BWS Financial upped their price objective on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Garrett Motion in a research note on Monday, October 20th. They set a “hold” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $18.80.

Garrett Motion Price Performance

Shares of NYSE GTX opened at $16.78 on Tuesday. Garrett Motion has a fifty-two week low of $7.01 and a fifty-two week high of $17.91. The firm has a market capitalization of $3.26 billion, a P/E ratio of 13.21 and a beta of 0.23. The company’s 50 day simple moving average is $15.96 and its 200 day simple moving average is $13.48.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Sell-side analysts expect that Garrett Motion will post 1.25 EPS for the current fiscal year.

Garrett Motion announced that its Board of Directors has approved a share repurchase program on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Garrett Motion

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion in the first quarter valued at about $42,000. Tower Research Capital LLC TRC acquired a new stake in Garrett Motion in the 2nd quarter valued at approximately $45,000. Amalgamated Bank bought a new stake in Garrett Motion in the 2nd quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd boosted its position in Garrett Motion by 4,655.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock worth $47,000 after acquiring an additional 4,423 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Garrett Motion in the second quarter valued at approximately $61,000. Institutional investors own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.