Garrett Motion (NASDAQ:GTX) Rating Lowered to “Hold” at Zacks Research

Garrett Motion (NASDAQ:GTX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a research report on Thursday, May 21st. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. BWS Financial reiterated a “buy” rating and set a $42.00 target price on shares of Garrett Motion in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, Stifel Nicolaus upped their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

Garrett Motion Stock Performance

Shares of NASDAQ:GTX opened at $31.68 on Monday. Garrett Motion has a 52-week low of $11.04 and a 52-week high of $36.25. The company has a market capitalization of $5.93 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.99 and a beta of 0.78. The company has a fifty day moving average of $32.41 and a 200-day moving average of $23.70.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data 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. The company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts forecast that Garrett Motion will post 1.82 EPS for the current fiscal year.

Insider Activity

In other news, 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 transaction of $2,310,000.00. Following the completion of the sale, the senior vice president directly owned 147,956 shares in the company, valued at $4,882,548. This represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 213,834 shares of company stock valued at $6,918,710. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new stake in Garrett Motion during the first quarter worth approximately $42,000. Jane Street Group LLC boosted its holdings in shares of Garrett Motion by 641.7% during the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock worth $761,000 after buying an additional 78,661 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Garrett Motion during the 2nd quarter worth approximately $121,000. Legal & General Group Plc grew its position in shares of Garrett Motion by 30.4% during the 2nd quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock worth $1,024,000 after buying an additional 22,727 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Garrett Motion in the 2nd quarter valued at $225,000. 86.27% of the stock is 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.