Stifel Nicolaus Issues Positive Forecast for Garrett Motion (NYSE:GTX) Stock Price

Garrett Motion (NYSE:GTX) had its price objective raised by Stifel Nicolaus from $20.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 24.87% from the company’s previous close.

Several other research analysts also recently issued reports on the company. BWS Financial increased their price objective on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Garrett Motion in a research report on Monday, October 20th. They set a “hold” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $17.75.

Garrett Motion Stock Performance

Shares of NYSE GTX traded down $0.05 during midday trading on Tuesday, reaching $16.82. 399,298 shares of the company traded hands, compared to its average volume of 2,398,657. The firm has a market cap of $3.27 billion, a PE ratio of 13.23 and a beta of 0.23. Garrett Motion has a 12 month low of $7.01 and a 12 month high of $17.91. The stock’s 50-day simple moving average is $15.81 and its 200-day simple moving average is $13.41.

Garrett Motion (NYSE:GTX) last announced its earnings results on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities research analysts expect that Garrett Motion will post 1.25 EPS for the current year.

Garrett Motion declared that its board has initiated a share repurchase plan on Wednesday, December 3rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Garrett Motion by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company’s stock worth $19,285,000 after purchasing an additional 62,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Garrett Motion by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 830,616 shares of the company’s stock valued at $6,952,000 after purchasing an additional 22,666 shares during the period. Deutsche Bank AG lifted its holdings in shares of Garrett Motion by 14.4% in the first quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock valued at $79,000 after purchasing an additional 1,181 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Garrett Motion by 138.0% in the first quarter. Invesco Ltd. now owns 162,991 shares of the company’s stock valued at $1,364,000 after purchasing an additional 94,501 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Garrett Motion by 296.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 253,150 shares of the company’s stock worth $2,119,000 after buying an additional 189,300 shares during the period. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.