Garrett Motion Inc (GTX) Receives $15.67 Consensus Target Price from Analysts
Shares of Garrett Motion Inc (NYSE:GTX) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $15.67.
Several research analysts recently commented on GTX shares. Barclays set a $14.00 target price on shares of Garrett Motion and gave the stock a “hold” rating in a report on Friday, January 4th. Royal Bank of Canada upgraded shares of Garrett Motion from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $11.00 to $15.00 in a research report on Wednesday, January 23rd. Jefferies Financial Group restated a “hold” rating and issued a $17.00 price target on shares of Garrett Motion in a research report on Thursday, February 21st. Zacks Investment Research upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, January 4th. Finally, Desjardins lowered shares of Garrett Motion to a “buy” rating in a research report on Wednesday, January 23rd.
A number of hedge funds and other institutional investors have recently bought and sold shares of GTX. BlackRock Inc. grew its position in Garrett Motion by 1,389,042.2% in the 4th quarter. BlackRock Inc. now owns 8,682,139 shares of the company’s stock worth $107,137,000 after purchasing an additional 8,681,514 shares during the last quarter. Gates Capital Management Inc. grew its position in Garrett Motion by 205.3% in the 4th quarter. Gates Capital Management Inc. now owns 2,239,475 shares of the company’s stock worth $27,635,000 after purchasing an additional 1,505,876 shares during the last quarter. Bank of New York Mellon Corp grew its position in Garrett Motion by 619.7% in the 4th quarter. Bank of New York Mellon Corp now owns 865,663 shares of the company’s stock worth $10,682,000 after purchasing an additional 745,383 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Garrett Motion in the 4th quarter worth $7,416,000. Finally, Gamco Investors INC. ET AL acquired a new stake in Garrett Motion in the 4th quarter worth $6,832,000. Institutional investors own 83.14% of the company’s stock.
Garrett Motion (NYSE:GTX) last announced its earnings results on Wednesday, February 20th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $799.00 million during the quarter, compared to the consensus estimate of $781.48 million. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts forecast that Garrett Motion will post 3.3 EPS for the current year.
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.
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