Brokerages Set Garrett Motion Inc (NYSE:GTX) Target Price at $15.50

Shares of Garrett Motion Inc (NYSE:GTX) have earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.50.

GTX has been the topic of a number of research analyst reports. Royal Bank of Canada set a $14.00 price target on Garrett Motion and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Barclays set a $16.00 price target on Garrett Motion and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research lowered Garrett Motion from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th.

Shares of NYSE GTX traded up $0.21 during mid-day trading on Tuesday, reaching $11.16. 1,443 shares of the company’s stock were exchanged, compared to its average volume of 786,053. The firm has a market capitalization of $860.38 million and a price-to-earnings ratio of 2.75. The business has a fifty day simple moving average of $13.96 and a 200 day simple moving average of $15.81. Garrett Motion has a twelve month low of $10.82 and a twelve month high of $22.00.



Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. The company had revenue of $802.00 million for the quarter, compared to analyst estimates of $831.99 million. Garrett Motion had a negative return on equity of 44.81% and a net margin of 34.50%. Garrett Motion’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 earnings per share. As a group, research analysts predict that Garrett Motion will post 3.38 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baxter Bros Inc. grew its holdings in shares of Garrett Motion by 4.3% during the second quarter. Baxter Bros Inc. now owns 16,757 shares of the company’s stock worth $257,000 after buying an additional 698 shares in the last quarter. 6 Meridian grew its holdings in shares of Garrett Motion by 1.6% during the second quarter. 6 Meridian now owns 48,018 shares of the company’s stock worth $737,000 after buying an additional 739 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of Garrett Motion by 3.4% during the first quarter. Mason Street Advisors LLC now owns 23,771 shares of the company’s stock worth $350,000 after buying an additional 785 shares in the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of Garrett Motion by 16.8% during the first quarter. Pittenger & Anderson Inc. now owns 5,555 shares of the company’s stock worth $82,000 after buying an additional 800 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Garrett Motion by 1.1% during the first quarter. Comerica Bank now owns 74,193 shares of the company’s stock worth $1,235,000 after buying an additional 818 shares in the last quarter. 82.03% of the stock is currently owned by institutional investors.

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.

Further Reading: Operating Income

Analyst Recommendations for Garrett Motion (NYSE:GTX)

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