Garrett Motion (NASDAQ:GTX) Cut to “Buy” at Wall Street Zen

Garrett Motion (NASDAQ:GTX) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages have also recently commented on GTX. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. BWS Financial reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Garrett Motion in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Weiss Ratings initiated coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They set a “buy (b)” rating for the company. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.40.

Garrett Motion Stock Performance

GTX opened at $31.77 on Friday. The company has a market capitalization of $5.95 billion, a PE ratio of 18.58, a P/E/G ratio of 0.93 and a beta of 0.78. The stock’s fifty day moving average is $32.66 and its 200-day moving average is $23.95. Garrett Motion has a one year low of $11.43 and a one year high of $36.25.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Garrett Motion will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the sale, the director directly owned 124,885 shares of the company’s stock, valued at $3,898,909.70. This represents a 12.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares of the company’s stock, valued at $4,882,548. This trade represents a 32.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 213,834 shares of company stock valued at $6,918,710 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Garrett Motion during the fourth quarter valued at approximately $180,383,000. LSV Asset Management boosted its stake in Garrett Motion by 45.8% in the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock worth $108,683,000 after purchasing an additional 1,958,808 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Garrett Motion by 170.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after purchasing an additional 3,241,952 shares during the period. Marshall Wace LLP grew its position in Garrett Motion by 85.9% during the 4th quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock worth $77,968,000 after purchasing an additional 2,067,264 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Garrett Motion by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company’s stock worth $77,120,000 after purchasing an additional 234,735 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

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.