Garrett Motion (NYSE:GTX) Rating Reiterated by BWS Financial

Garrett Motion (NYSE:GTX)‘s stock had its “buy” rating reiterated by investment analysts at BWS Financial in a research note issued on Thursday, Benzinga reports. They currently have a $12.00 target price on the stock. BWS Financial’s price target would indicate a potential upside of 48.15% from the stock’s current price.

Garrett Motion Stock Down 0.4 %

Shares of Garrett Motion stock opened at $8.10 on Thursday. The business has a 50-day moving average price of $8.40 and a 200 day moving average price of $8.97. Garrett Motion has a fifty-two week low of $6.43 and a fifty-two week high of $10.16. The firm has a market cap of $1.83 billion, a P/E ratio of -7.04 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. The business had revenue of $890.00 million during the quarter, compared to the consensus estimate of $950.00 million. During the same period in the previous year, the business earned ($1.88) EPS. As a group, equities research analysts anticipate that Garrett Motion will post 1.17 earnings per share for the current year.

Insider Activity

In related news, Director Julia Steyn sold 14,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total transaction of $122,780.00. Following the sale, the director now owns 53,781 shares in the company, valued at $471,659.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of Garrett Motion stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total value of $122,780.00. Following the completion of the transaction, the director now directly owns 53,781 shares in the company, valued at $471,659.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total value of $37,827.79. Following the sale, the insider now owns 27,337,398 shares in the company, valued at $273,647,353.98. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Garrett Motion

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP raised its position in shares of Garrett Motion by 54.8% during the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after purchasing an additional 1,830 shares during the period. Pekin Hardy Strauss Inc. grew its holdings in Garrett Motion by 2.2% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 94,850 shares of the company’s stock worth $815,000 after buying an additional 2,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Garrett Motion by 17.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock worth $174,000 after buying an additional 2,933 shares in the last quarter. Baker Ellis Asset Management LLC grew its holdings in Garrett Motion by 1.7% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 236,353 shares of the company’s stock worth $2,030,000 after buying an additional 3,981 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Garrett Motion in the 2nd quarter worth approximately $67,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

About Garrett Motion

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.