Tigress Financial Increases Garmin (NYSE:GRMN) Price Target to $215.00

by · The Markets Daily

Garmin (NYSE:GRMN – Free Report) had its target price hoisted by Tigress Financial from $210.00 to $215.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a strong-buy rating on the scientific and technical instruments company’s stock.

Other research analysts have also issued reports about the company. StockNews.com lowered Garmin from a buy rating to a hold rating in a report on Thursday, September 12th. Barclays lowered Garmin from an equal weight rating to an underweight rating and cut their price target for the company from $181.00 to $133.00 in a report on Friday, September 13th. Finally, Bank of America lowered Garmin from a neutral rating to an underperform rating and cut their price target for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $152.17.

Read Our Latest Research Report on GRMN

Garmin Trading Down 0.4 %

GRMN stock opened at $171.00 on Thursday. The business’s 50-day moving average price is $174.48 and its two-hundred day moving average price is $162.47. The firm has a market cap of $32.85 billion, a PE ratio of 24.12, a P/E/G ratio of 3.16 and a beta of 1.00. Garmin has a 1-year low of $99.61 and a 1-year high of $184.42.

Garmin (NYSE:GRMN – Get Free Report) last posted its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.18. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. On average, analysts forecast that Garmin will post 6.05 earnings per share for the current year.

Insider Activity at Garmin

In related news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Garmin

A number of large investors have recently added to or reduced their stakes in GRMN. Principal Securities Inc. bought a new stake in Garmin in the 4th quarter valued at $65,000. Norges Bank bought a new stake in Garmin in the 4th quarter valued at $20,848,000. PNC Financial Services Group Inc. raised its stake in Garmin by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,853 shares of the scientific and technical instruments company’s stock valued at $1,781,000 after acquiring an additional 1,921 shares during the period. D.A. Davidson & CO. raised its stake in Garmin by 4.1% in the 4th quarter. D.A. Davidson & CO. now owns 27,827 shares of the scientific and technical instruments company’s stock valued at $3,577,000 after acquiring an additional 1,104 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Garmin by 12.4% in the 4th quarter. Corient Private Wealth LLC now owns 11,931 shares of the scientific and technical instruments company’s stock valued at $1,534,000 after acquiring an additional 1,319 shares during the period. Institutional investors own 73.41% of the company’s stock.

About Garmin

(Get Free Report)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

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