Garmin (NASDAQ:GRMN) Price Target Increased to $202.00 by Analysts at Tigress Financial

Garmin (NASDAQ:GRMN) had its target price increased by Tigress Financial from $198.00 to $202.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have a strong-buy rating on the scientific and technical instruments company’s stock.

GRMN has been the topic of a number of other research reports. Zacks Investment Research downgraded Garmin from a buy rating to a hold rating and set a $163.00 target price on the stock. in a research note on Tuesday, October 5th. Morgan Stanley lowered their target price on Garmin from $147.00 to $141.00 and set an equal weight rating on the stock in a research note on Thursday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Garmin from $155.00 to $148.00 and set a hold rating on the stock in a research note on Friday, November 5th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Garmin presently has an average rating of Buy and a consensus target price of $154.57.

Shares of Garmin stock opened at $143.11 on Wednesday. The business’s fifty day moving average price is $153.66 and its two-hundred day moving average price is $153.73. The company has a market capitalization of $27.52 billion, a P/E ratio of 24.46, a PEG ratio of 3.69 and a beta of 0.96. Garmin has a 1-year low of $113.59 and a 1-year high of $178.80.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, October 27th. The scientific and technical instruments company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.14. Garmin had a return on equity of 20.42% and a net margin of 22.85%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts predict that Garmin will post 5.7 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. Amundi bought a new stake in shares of Garmin during the 2nd quarter worth about $54,514,000. Macquarie Group Ltd. boosted its stake in shares of Garmin by 2,037.8% during the 2nd quarter. Macquarie Group Ltd. now owns 359,090 shares of the scientific and technical instruments company’s stock worth $51,939,000 after acquiring an additional 342,293 shares in the last quarter. Morgan Stanley boosted its stake in shares of Garmin by 53.3% during the 2nd quarter. Morgan Stanley now owns 838,762 shares of the scientific and technical instruments company’s stock worth $121,319,000 after acquiring an additional 291,472 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Garmin by 5,464.1% during the 3rd quarter. Two Sigma Advisers LP now owns 217,000 shares of the scientific and technical instruments company’s stock worth $33,735,000 after acquiring an additional 213,100 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Garmin by 527.5% during the 3rd quarter. Panagora Asset Management Inc. now owns 245,016 shares of the scientific and technical instruments company’s stock worth $38,090,000 after acquiring an additional 205,969 shares in the last quarter. Institutional investors own 62.40% of the company’s stock.

Garmin Company Profile

Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following five segments: Marine, Outdoor, Fitness, Auto and Aviation. The Marine segment manufactures and offers recreational marine electronics such as cartography, Sounders, Radar, Autopilot Systems and Sailing.

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