BWS Financial Reiterates “Buy” Rating for Garrett Motion (NYSE:GTX)

Garrett Motion (NYSE:GTX)‘s stock had its “buy” rating reissued by investment analysts at BWS Financial in a research note issued on Wednesday,Benzinga reports. They presently have a $12.00 price objective on the stock. BWS Financial’s price target would indicate a potential upside of 25.65% from the company’s previous close.

Garrett Motion Price Performance

NYSE GTX opened at $9.55 on Wednesday. Garrett Motion has a 1-year low of $7.13 and a 1-year high of $10.16. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 9.36 and a beta of 1.16. The business’s fifty day moving average price is $8.92 and its 200-day moving average price is $8.46.

Garrett Motion (NYSE:GTX) last announced its earnings results on Thursday, October 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.06). The firm had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $854.00 million. Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. During the same period in the previous year, the business posted $0.23 earnings per share. Equities research analysts anticipate that Garrett Motion will post 1.08 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Thierry Mabru sold 50,000 shares of Garrett Motion stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total transaction of $373,500.00. Following the sale, the senior vice president now owns 140,509 shares of the company’s stock, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently added to or reduced their stakes in GTX. ARS Investment Partners LLC purchased a new position in Garrett Motion during the fourth quarter valued at $181,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Garrett Motion by 20,649.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 63,493 shares of the company’s stock valued at $573,000 after purchasing an additional 63,187 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Garrett Motion by 32.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company’s stock valued at $1,755,000 after purchasing an additional 47,126 shares in the last quarter. Barclays PLC increased its holdings in shares of Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company’s stock worth $2,430,000 after purchasing an additional 136,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Garrett Motion in the third quarter worth about $5,928,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Company Profile

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.