Garrett Motion (NYSE:GTX) Now Covered by Analysts at Morgan Stanley
Morgan Stanley assumed coverage on shares of Garrett Motion (NYSE:GTX) in a report published on Tuesday, BenzingaRatingsTable reports. The firm issued an underweight rating and a $8.00 price target on the stock.
A number of other research firms have also recently commented on GTX. Royal Bank of Canada set a $14.00 price target on Garrett Motion and gave the stock a hold rating in a research note on Wednesday, July 31st. Barclays set a $16.00 price target on Garrett Motion and gave the stock a hold rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research cut Garrett Motion from a hold rating to a sell rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $13.29.
NYSE:GTX traded up $0.61 during trading hours on Tuesday, reaching $12.45. 33,710 shares of the stock were exchanged, compared to its average volume of 869,039. The business has a 50-day moving average of $11.66 and a two-hundred day moving average of $15.10. Garrett Motion has a twelve month low of $9.31 and a twelve month high of $22.00. The company has a market capitalization of $803.67 million and a price-to-earnings ratio of 3.08.
Several institutional investors have recently bought and sold shares of the company. Dynamo Internacional Gestao DE Recursos LTDA. purchased a new stake in shares of Garrett Motion during the second quarter worth $38,091,000. Renaissance Technologies LLC purchased a new stake in shares of Garrett Motion during the second quarter worth $8,878,000. Gamco Investors INC. ET AL increased its position in shares of Garrett Motion by 1.7% during the second quarter. Gamco Investors INC. ET AL now owns 564,681 shares of the company’s stock worth $8,668,000 after acquiring an additional 9,463 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Garrett Motion by 7.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 500,325 shares of the company’s stock worth $7,680,000 after acquiring an additional 33,378 shares during the period. Finally, University of Notre Dame DU Lac purchased a new stake in shares of Garrett Motion during the second quarter worth $7,267,000. 84.24% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: Buyback
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.