Garrett Motion (NYSE:GTX) Trading Up 6.5%

Garrett Motion Inc (NYSE:GTX) shares traded up 6.5% during trading on Wednesday . The stock traded as high as $11.49 and last traded at $11.47, 1,506,680 shares traded hands during trading. An increase of 86% from the average session volume of 810,648 shares. The stock had previously closed at $10.77.

Several equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on Garrett Motion in a research note on Tuesday. They set an “underweight” rating and a $8.00 target price for the company. Zacks Investment Research lowered Garrett Motion from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Barclays set a $16.00 price target on Garrett Motion and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada set a $14.00 price objective on Garrett Motion and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.00.

The company has a market capitalization of $779.04 million and a price-to-earnings ratio of 2.83. The business’s 50 day moving average price is $11.66 and its two-hundred day moving average price is $15.10.



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

A number of institutional investors have recently modified their holdings of GTX. Dynamo Internacional Gestao DE Recursos LTDA. bought a new stake in shares of Garrett Motion during the second quarter worth $38,091,000. Renaissance Technologies LLC acquired a new stake in shares of Garrett Motion during the 2nd quarter valued at $8,878,000. University of Notre Dame DU Lac acquired a new stake in shares of Garrett Motion during the 2nd quarter valued at $7,267,000. Intrepid Capital Management Inc. bought a new stake in Garrett Motion during the 2nd quarter worth $6,349,000. Finally, First Trust Advisors LP bought a new stake in Garrett Motion during the 2nd quarter worth $3,441,000. Hedge funds and other institutional investors own 84.24% of the company’s stock.

About Garrett Motion (NYSE:GTX)

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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