Barclays Increases Garmin (NYSE:GRMN) Price Target to $158.00

Garmin (NYSE:GRMN - Get Free Report) had its price target boosted by research analysts at Barclays from $133.00 to $158.00 in a research note issued on Friday, Benzinga reports. The firm presently has an "underweight" rating on the scientific and technical instruments company's stock. Barclays's target price suggests a potential downside of 20.16% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Tigress Financial boosted their target price on Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. StockNews.com cut shares of Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Finally, Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Garmin currently has a consensus rating of "Hold" and an average price target of $162.67.

Garmin Stock Performance

Shares of NYSE GRMN traded down $0.46 during mid-day trading on Friday, hitting $197.89. 1,234,762 shares of the stock traded hands, compared to its average volume of 852,549. The company has a market cap of $38.04 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.52 and a beta of 0.99. The stock has a fifty day moving average price of $173.85 and a 200-day moving average price of $167.23. Garmin has a 52 week low of $112.01 and a 52 week high of $207.22.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin's quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. As a group, sell-side analysts predict that Garmin will post 6.09 EPS for the current fiscal year.

Insider Activity

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares of the company's stock, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip Straub sold 2,750 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company's stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,892 shares of company stock valued at $2,296,174 over the last three months. Insiders own 19.54% of the company's stock.

Institutional Trading of Garmin

Hedge funds have recently bought and sold shares of the stock. Select Equity Group L.P. increased its stake in shares of Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company's stock worth $326,909,000 after purchasing an additional 11,666 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Garmin by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company's stock worth $282,761,000 after buying an additional 13,968 shares in the last quarter. Boston Partners raised its holdings in Garmin by 4.3% during the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company's stock valued at $210,799,000 after acquiring an additional 58,343 shares during the period. Marshall Wace LLP lifted its position in shares of Garmin by 34.0% in the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company's stock valued at $178,958,000 after acquiring an additional 278,990 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Garmin by 20.2% in the first quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company's stock worth $124,982,000 after acquiring an additional 141,001 shares during the period. Institutional investors own 73.41% of the company's stock.

About Garmin

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.