Brokerages Set Garrett Motion Inc. (NYSE:GTX) PT at $18.80

Garrett Motion Inc. (NYSE:GTX) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $18.80.

GTX has been the subject of a number of research reports. JPMorgan Chase & Co. began coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price for the company. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. BWS Financial increased their price objective on shares of Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Garrett Motion in a research note on Monday, October 20th. They issued a “hold” rating and a $14.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th.

Garrett Motion Trading Down 1.2%

NYSE:GTX opened at $18.04 on Wednesday. The stock has a 50 day moving average of $17.52 and a two-hundred day moving average of $15.12. Garrett Motion has a 12 month low of $7.01 and a 12 month high of $19.28. The firm has a market cap of $3.51 billion, a P/E ratio of 14.20 and a beta of 0.25.

Garrett Motion declared that its board has authorized a share buyback program on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. D Orazio & Associates Inc. grew its holdings in shares of Garrett Motion by 7.2% in the third quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock valued at $206,000 after purchasing an additional 1,015 shares during the period. Spire Wealth Management boosted its holdings in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares during the last quarter. Baron Wealth Management LLC boosted its holdings in Garrett Motion by 6.3% in the 4th quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock valued at $461,000 after purchasing an additional 1,570 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after buying an additional 1,593 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Garrett Motion by 99.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company’s stock worth $60,000 after buying an additional 1,720 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.