Tigress Financial Increases Garmin (NYSE:GRMN) Price Target to $265.00

Garmin (NYSE:GRMN) had its price target upped by investment analysts at Tigress Financial from $215.00 to $265.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the scientific and technical instruments company’s stock. Tigress Financial’s price target points to a potential upside of 25.62% from the stock’s current price.

GRMN has been the subject of a number of other research reports. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Barclays lifted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.00.

Garmin Stock Down 1.7 %

GRMN stock opened at $210.95 on Monday. Garmin has a twelve month low of $119.15 and a twelve month high of $222.97. The firm has a market cap of $40.51 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97. The business has a 50 day moving average of $197.55 and a 200 day moving average of $179.80.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, research analysts expect that Garmin will post 7.01 earnings per share for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 19.54% of the company’s stock.

Institutional Trading of Garmin

Several hedge funds have recently bought and sold shares of GRMN. Citigroup Inc. boosted its stake in shares of Garmin by 123.2% in the third quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after acquiring an additional 156,441 shares during the period. Algert Global LLC bought a new position in shares of Garmin in the second quarter worth about $508,000. Dynamic Advisor Solutions LLC bought a new position in shares of Garmin in the third quarter worth about $695,000. Trajan Wealth LLC boosted its stake in shares of Garmin by 9.1% in the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after acquiring an additional 6,878 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Garmin by 24.2% in the third quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock worth $3,086,000 after acquiring an additional 3,415 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Company Profile

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.