Garmin (NYSE:GRMN) Given New $285.00 Price Target at Tigress Financial

Garmin (NYSE:GRMN) had its price target upped by stock analysts at Tigress Financial from $265.00 to $285.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “strong-buy” rating on the scientific and technical instruments company’s stock. Tigress Financial’s price target would suggest a potential upside of 25.89% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley raised Garmin to a “sell” rating and upped their price target for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Barclays raised their price target on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $210.80.

Garmin Price Performance

GRMN stock traded up $0.35 on Wednesday, reaching $226.39. 773,212 shares of the company were exchanged, compared to its average volume of 842,114. The stock’s fifty day moving average price is $213.89 and its 200 day moving average price is $196.76. The firm has a market capitalization of $43.56 billion, a PE ratio of 30.97, a PEG ratio of 1.36 and a beta of 0.98. Garmin has a 12 month low of $134.01 and a 12 month high of $246.50.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. Garmin’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, research analysts expect that Garmin will post 7.8 EPS for the current fiscal year.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV bought a new position in shares of Garmin during the fourth quarter worth $46,000. JT Stratford LLC increased its stake in Garmin by 5.0% during the fourth quarter. JT Stratford LLC now owns 9,448 shares of the scientific and technical instruments company’s stock worth $1,949,000 after acquiring an additional 451 shares during the last quarter. Novem Group purchased a new stake in Garmin during the fourth quarter valued at approximately $987,000. Principal Street Partners LLC lifted its stake in shares of Garmin by 1.8% in the 4th quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company’s stock valued at $660,000 after purchasing an additional 58 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Garmin by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 999,096 shares of the scientific and technical instruments company’s stock worth $206,074,000 after purchasing an additional 135,135 shares during the period. 81.60% of the stock is currently owned by institutional investors.

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.