Garrett Motion (NYSE:GTX) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Garrett Motion (NYSE:GTX) from a strong sell rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Garrett Motion Inc. provides transportation systems. The Company offers turbochargers, engines, diesel tank and other related parts. Garrett Motion Inc. is based in Switzerland. “

Several other equities analysts have also weighed in on GTX. ValuEngine raised Garrett Motion from a sell rating to a hold rating in a research note on Monday, December 9th. Barclays restated a hold rating and issued a $11.00 price target on shares of Garrett Motion in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Garrett Motion has a consensus rating of Hold and an average price target of $13.14.

NYSE:GTX traded down $0.32 during mid-day trading on Thursday, hitting $9.42. The company had a trading volume of 364,200 shares, compared to its average volume of 733,844. Garrett Motion has a fifty-two week low of $8.46 and a fifty-two week high of $19.71. The business’s fifty day moving average is $10.09 and its two-hundred day moving average is $10.97. The firm has a market cap of $722.82 million, a P/E ratio of 3.25 and a beta of 1.60.

Garrett Motion (NYSE:GTX) last released its earnings results on Friday, November 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.33). Garrett Motion had a net margin of 6.84% and a negative return on equity of 9.05%. The company had revenue of $781.00 million during the quarter, compared to analyst estimates of $777.45 million. During the same period in the previous year, the company posted $12.54 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Garrett Motion will post 3.08 earnings per share for the current year.

In other Garrett Motion news, SVP Fabrice Spenninck sold 6,012 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $11.73, for a total value of $70,520.76. 0.40% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in GTX. Doyle Wealth Management bought a new stake in shares of Garrett Motion in the second quarter worth about $28,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Garrett Motion in the second quarter worth about $38,000. Public Employees Retirement System of Ohio increased its holdings in shares of Garrett Motion by 33.3% in the third quarter. Public Employees Retirement System of Ohio now owns 5,428 shares of the company’s stock worth $54,000 after acquiring an additional 1,357 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Garrett Motion by 69.7% in the second quarter. Tower Research Capital LLC TRC now owns 6,360 shares of the company’s stock worth $98,000 after acquiring an additional 2,613 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Garrett Motion in the first quarter worth about $98,000. Institutional investors own 80.72% of the company’s stock.

About Garrett Motion

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: How Do You Calculate Return on Equity (ROE)?

Get a free copy of the Zacks research report on Garrett Motion (GTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Garrett Motion (NYSE:GTX)

Receive News & Ratings for Garrett Motion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garrett Motion and related companies with MarketBeat.com's FREE daily email newsletter.