Garrett Motion (NYSE:GTX) Rating Reiterated by Barclays

Garrett Motion (NYSE:GTX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Barclays in a research note issued on Wednesday, AnalystRatings.com reports. They currently have a $11.00 price objective on the stock. Barclays‘s price objective would indicate a potential upside of 4.07% from the stock’s previous close.

A number of other analysts have also issued reports on the company. ValuEngine raised Garrett Motion from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America raised Garrett Motion from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a report on Friday, September 13th. Zacks Investment Research lowered Garrett Motion from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. UBS Group lowered their target price on Garrett Motion from $12.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, September 12th. Finally, Royal Bank of Canada set a $14.00 target price on Garrett Motion and gave the company a “hold” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Garrett Motion presently has a consensus rating of “Hold” and a consensus price target of $13.14.

GTX traded up $0.38 during midday trading on Wednesday, reaching $10.57. The company’s stock had a trading volume of 681,600 shares, compared to its average volume of 629,304. The stock has a market cap of $762.48 million and a P/E ratio of 2.61. The company has a fifty day simple moving average of $9.75 and a 200 day simple moving average of $13.13. Garrett Motion has a twelve month low of $8.46 and a twelve month high of $19.71.

Garrett Motion (NYSE:GTX) last released its earnings results on Friday, November 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.33). The business had revenue of $781.00 million during the quarter, compared to analyst estimates of $777.45 million. Garrett Motion had a net margin of 6.84% and a negative return on equity of 9.05%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $12.54 EPS. As a group, sell-side analysts expect that Garrett Motion will post 3.33 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of GTX. Amundi Pioneer Asset Management Inc. bought a new position in shares of Garrett Motion during the 1st quarter worth approximately $98,000. WINTON GROUP Ltd bought a new position in shares of Garrett Motion during the 2nd quarter worth approximately $426,000. Nisa Investment Advisors LLC lifted its position in shares of Garrett Motion by 6.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 55,957 shares of the company’s stock worth $859,000 after buying an additional 3,185 shares during the period. 6 Meridian lifted its position in shares of Garrett Motion by 1.6% during the 2nd quarter. 6 Meridian now owns 48,018 shares of the company’s stock worth $737,000 after buying an additional 739 shares during the period. Finally, AdvisorNet Financial Inc lifted its position in shares of Garrett Motion by 228.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 5,459 shares of the company’s stock worth $84,000 after buying an additional 3,797 shares during the period. Institutional investors and hedge funds own 83.68% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.

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