Garrett Motion (GTX) Now Covered by Jefferies Financial Group

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Jefferies Financial Group started coverage on shares of Garrett Motion (NYSE:GTX) in a research note published on Tuesday, Marketbeat.com reports. The brokerage issued a hold rating and a $13.00 price target on the stock. Jefferies Financial Group also issued estimates for Garrett Motion’s Q4 2018 earnings at $0.67 EPS, FY2018 earnings at $16.02 EPS, Q1 2019 earnings at $0.86 EPS, Q2 2019 earnings at $0.94 EPS, Q3 2019 earnings at $0.80 EPS, Q4 2019 earnings at $0.87 EPS, FY2019 earnings at $3.46 EPS, Q1 2020 earnings at $1.08 EPS, Q2 2020 earnings at $1.08 EPS, Q3 2020 earnings at $0.94 EPS and FY2020 earnings at $4.10 EPS.

GTX has been the subject of a number of other reports. Bank of America started coverage on shares of Garrett Motion in a report on Tuesday, October 2nd. They set an underperform rating and a $15.00 price objective for the company. Barclays started coverage on shares of Garrett Motion in a research report on Tuesday, October 9th. They issued an equal weight rating and a $16.00 target price on the stock. UBS Group started coverage on shares of Garrett Motion in a research report on Friday, November 2nd. They issued a sell rating on the stock. Finally, Royal Bank of Canada started coverage on shares of Garrett Motion in a research report on Monday, October 1st. They issued an underperform rating and a $14.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has a consensus rating of Sell and a consensus target price of $14.25.

NYSE GTX opened at $11.63 on Tuesday. Garrett Motion has a 52-week low of $11.01 and a 52-week high of $22.00.

A number of large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new position in Garrett Motion in the 3rd quarter worth $273,000. Baird Financial Group Inc. purchased a new position in Garrett Motion in the 3rd quarter worth $342,000. FNY Investment Advisers LLC purchased a new position in Garrett Motion in the 3rd quarter worth $449,000. Allianz Asset Management GmbH purchased a new position in Garrett Motion in the 3rd quarter worth $571,000. Finally, Thornburg Investment Management Inc. purchased a new position in Garrett Motion in the 3rd quarter worth $694,000. Institutional investors own 8.29% 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 was incorporated in 2018 and is headquartered in Rolle, Switzerland.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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