Bank of America upgraded shares of Garrett Motion (NYSE:GTX) from an underperform rating to a neutral rating in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. The firm currently has $22.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Morgan Stanley began coverage on Garrett Motion in a research note on Tuesday, September 10th. They set an underweight rating and a $8.00 target price for the company. UBS Group reduced their target price on Garrett Motion from $12.00 to $9.00 and set a sell rating for the company in a research note on Thursday, September 12th. 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 price objective on Garrett Motion and gave the stock a hold rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada set a $14.00 price objective on Garrett Motion and gave the stock a hold rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $14.29.

Garrett Motion stock opened at $12.28 on Friday. The stock has a market cap of $918.57 million and a P/E ratio of 3.03. The stock has a 50 day moving average of $11.48 and a 200-day moving average of $15.02. Garrett Motion has a 52 week low of $9.31 and a 52 week high of $22.00.

Garrett Motion (NYSE:GTX) last released its earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.04. The company had revenue of $802.00 million during the quarter, compared to analysts’ expectations of $831.99 million. Garrett Motion had a negative return on equity of 44.81% and a net margin of 34.50%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 EPS. Equities analysts forecast that Garrett Motion will post 3.38 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in GTX. Doyle Wealth Management bought a new position in Garrett Motion during the second quarter worth $28,000. Stonebridge Capital Advisors LLC bought a new position in Garrett Motion during the second quarter worth $38,000. Coastal Investment Advisors Inc. lifted its stake in Garrett Motion by 1,550.0% during the second quarter. Coastal Investment Advisors Inc. now owns 3,795 shares of the company’s stock worth $56,000 after purchasing an additional 3,565 shares during the last quarter. Rocky Mountain Advisers LLC bought a new position in Garrett Motion during the second quarter worth $60,000. Finally, Pittenger & Anderson Inc. lifted its stake in Garrett Motion by 16.8% during the first quarter. Pittenger & Anderson Inc. now owns 5,555 shares of the company’s stock worth $82,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 84.10% of the company’s stock.

About Garrett Motion

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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Analyst Recommendations for Garrett Motion (NYSE:GTX)

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