BWS Financial Reiterates Buy Rating for Garrett Motion (NYSE:GTX)

Garrett Motion (NYSE:GTX)‘s stock had its “buy” rating restated by equities researchers at BWS Financial in a report issued on Thursday, Benzinga reports. They currently have a $12.00 target price on the stock. BWS Financial’s target price points to a potential upside of 48.15% from the stock’s current price.

Garrett Motion Stock Up 0.6 %

GTX traded up $0.05 during trading on Thursday, reaching $8.10. The company’s stock had a trading volume of 664,584 shares, compared to its average volume of 941,641. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -7.03 and a beta of 1.15. The firm has a fifty day simple moving average of $8.41 and a two-hundred day simple moving average of $8.97. Garrett Motion has a 1 year low of $6.43 and a 1 year high of $10.16.

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

Insider Activity at Garrett Motion

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

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Garrett Motion by 3,801.4% in the fourth quarter. BNP Paribas Financial Markets now owns 59,887 shares of the company’s stock valued at $579,000 after purchasing an additional 58,352 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Garrett Motion in the fourth quarter valued at $3,573,000. Aigen Investment Management LP purchased a new position in Garrett Motion in the fourth quarter valued at $290,000. Global Endowment Management LP acquired a new position in Garrett Motion during the 4th quarter worth $1,051,000. Finally, Prevatt Capital Ltd purchased a new stake in Garrett Motion during the 4th quarter worth about $24,188,000. 86.27% of the stock is 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.