Tigress Financial Issues Positive Forecast for Garmin (NYSE:GRMN) Stock Price

Garmin (NYSE:GRMN) had its target price upped by Tigress Financial from $215.00 to $265.00 in a research report released on Monday,Benzinga reports. Tigress Financial currently has a strong-buy rating on the scientific and technical instruments company’s stock.

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

Garmin Stock Performance

Garmin stock opened at $214.79 on Monday. Garmin has a fifty-two week low of $119.15 and a fifty-two week high of $222.97. The firm has a market capitalization of $41.25 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97. The stock’s fifty day moving average is $196.62 and its two-hundred day moving average is $179.47.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Garmin will post 7.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 19.54% of the company’s stock.

Institutional Trading of Garmin

Large investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in Garmin in the second quarter valued at approximately $31,000. Larson Financial Group LLC grew its holdings in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares in the last quarter. Family Firm Inc. purchased a new stake in Garmin during the 2nd quarter worth $35,000. Benjamin Edwards Inc. lifted its holdings in Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Garmin in the 3rd quarter valued at about $39,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

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.