Garrett Motion (NYSE:GTX) Price Target Lowered to $9.00 at UBS Group

Share on StockTwits

Garrett Motion (NYSE:GTX) had its target price decreased by UBS Group from $12.00 to $9.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. UBS Group currently has a sell rating on the stock.

GTX has been the subject of a number of other reports. Royal Bank of Canada set a $14.00 price target on Garrett Motion and gave the company a hold rating in a report on Wednesday, July 31st. Zacks Investment Research cut Garrett Motion from a hold rating to a sell rating in a research note on Tuesday, July 30th. Barclays set a $16.00 target price on Garrett Motion and gave the company a hold rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley assumed coverage on Garrett Motion in a research note on Tuesday, September 10th. They issued an underweight rating and a $8.00 target price for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $14.29.

GTX stock opened at $12.31 on Thursday. The business has a fifty day moving average price of $11.61 and a 200 day moving average price of $15.08. Garrett Motion has a fifty-two week low of $9.31 and a fifty-two week high of $22.00. The stock has a market capitalization of $883.51 million and a price-to-earnings ratio of 3.04.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. Garrett Motion had a negative return on equity of 44.81% and a net margin of 34.50%. The firm had revenue of $802.00 million during the quarter, compared to analysts’ expectations of $831.99 million. During the same period last year, the firm posted $2.03 EPS. The business’s revenue was down 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Garrett Motion will post 3.38 earnings per share 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. increased its stake in shares of Garrett Motion by 4.3% in the 2nd quarter. Baxter Bros Inc. now owns 16,757 shares of the company’s stock valued at $257,000 after buying an additional 698 shares during the period. 6 Meridian increased its stake in shares of Garrett Motion by 1.6% in the 2nd quarter. 6 Meridian now owns 48,018 shares of the company’s stock valued at $737,000 after buying an additional 739 shares during the period. Mason Street Advisors LLC increased its stake in shares of Garrett Motion by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 23,771 shares of the company’s stock valued at $350,000 after buying an additional 785 shares during the period. Pittenger & Anderson Inc. increased its stake in shares of Garrett Motion by 16.8% in the 1st quarter. Pittenger & Anderson Inc. now owns 5,555 shares of the company’s stock valued at $82,000 after buying an additional 800 shares during the period. Finally, Comerica Bank increased its stake in shares of Garrett Motion by 1.1% in the 1st quarter. Comerica Bank now owns 74,193 shares of the company’s stock valued at $1,235,000 after buying an additional 818 shares during the period. 84.24% of the stock is 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: Overbought

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.