Garmin (NYSE:GRMN) Given New $265.00 Price Target at Tigress Financial

Garmin (NYSE:GRMN - Free Report) had its target price boosted by Tigress Financial from $215.00 to $265.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the scientific and technical instruments company's stock.

Several other equities research analysts have also recently commented on GRMN. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. StockNews.com lowered Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Finally, Morgan Stanley cut Garmin from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock 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 given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $171.00.

Garmin Trading Down 0.3 %

Shares of Garmin stock traded down $0.61 during mid-day trading on Monday, reaching $214.79. 723,806 shares of the stock were exchanged, compared to its average volume of 856,529. Garmin has a fifty-two week low of $119.15 and a fifty-two week high of $222.97. The company has a market cap 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 firm has a 50-day simple moving average of $196.62 and a 200 day simple moving average of $179.47.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the firm posted $1.41 EPS. The business's revenue was up 24.1% on a year-over-year basis. On average, research analysts predict that Garmin will post 7.01 EPS for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 19.54% of the company's stock.

Institutional Investors Weigh In On Garmin

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Garmin by 15.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,726 shares of the scientific and technical instruments company's stock worth $1,910,000 after buying an additional 1,564 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Garmin by 18.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,018 shares of the scientific and technical instruments company's stock valued at $329,000 after purchasing an additional 321 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Garmin by 277.6% during the second quarter. Blue Trust Inc. now owns 623 shares of the scientific and technical instruments company's stock worth $93,000 after purchasing an additional 458 shares during the period. Pallas Capital Advisors LLC bought a new stake in Garmin in the 2nd quarter valued at $288,000. Finally, Fifth Third Bancorp grew its holdings in Garmin by 4.7% in the 2nd quarter. Fifth Third Bancorp now owns 6,014 shares of the scientific and technical instruments company's stock valued at $980,000 after buying an additional 268 shares in the last quarter. 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.