Garrett Motion Inc. (NYSE:GTX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Garrett Motion Inc. (NYSE:GTX) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $18.80.

Several brokerages have recently issued reports on GTX. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft started coverage on Garrett Motion in a report on Monday, October 20th. They issued a “hold” rating and a $14.00 price target for the company. Stifel Nicolaus lifted their target price on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. BWS Financial increased their price target on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target on the stock.

Garrett Motion Price Performance

NYSE GTX opened at $18.34 on Wednesday. Garrett Motion has a 1 year low of $7.01 and a 1 year high of $19.28. The company has a market capitalization of $3.57 billion, a PE ratio of 14.44 and a beta of 0.25. The company has a fifty day moving average of $17.39 and a 200 day moving average of $15.03.

Garrett Motion announced that its board has approved a share buyback plan on Wednesday, December 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Garrett Motion

Several institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. raised its stake in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after buying an additional 1,593 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Garrett Motion by 79.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,123 shares of the company’s stock worth $1,048,000 after acquiring an additional 26,616 shares during the period. CWM LLC lifted its holdings in Garrett Motion by 87.3% during the fourth quarter. CWM LLC now owns 25,493 shares of the company’s stock valued at $444,000 after purchasing an additional 11,884 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in Garrett Motion during the fourth quarter valued at $185,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Garrett Motion by 80.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 784,503 shares of the company’s stock worth $13,674,000 after purchasing an additional 349,478 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

About Garrett Motion

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.