Garmin (GRMN) Earns Buy Rating from Tigress Financial

Tigress Financial reaffirmed their buy rating on shares of Garmin (NASDAQ:GRMN) in a research note released on Friday morning.

A number of other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Garmin from a buy rating to a hold rating in a research report on Tuesday, October 17th. Morgan Stanley boosted their price target on Garmin from $52.00 to $57.00 and gave the stock an equal weight rating in a research report on Thursday, November 2nd. ValuEngine raised Garmin from a hold rating to a buy rating in a research report on Friday, November 10th. KeyCorp reissued a hold rating on shares of Garmin in a research report on Wednesday, November 1st. Finally, BidaskClub downgraded Garmin from a strong-buy rating to a buy rating in a research report on Saturday, December 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $56.57.

Garmin (GRMN) opened at $58.36 on Friday. The firm has a market capitalization of $10,942.50, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Garmin has a 12-month low of $47.03 and a 12-month high of $63.15.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $743.00 million for the quarter, compared to the consensus estimate of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. equities research analysts anticipate that Garmin will post 2.9 earnings per share for the current fiscal year.

In other news, VP Andrew R. Etkind sold 2,073 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $53.00, for a total value of $109,869.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Jonathan Burrell sold 254,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $62.45, for a total value of $15,862,300.00. The disclosure for this sale can be found here. Insiders sold 1,065,943 shares of company stock worth $64,477,247 in the last ninety days. 18.30% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Garmin in the second quarter valued at approximately $376,000. Royal Bank of Canada boosted its stake in shares of Garmin by 30.4% in the second quarter. Royal Bank of Canada now owns 231,794 shares of the scientific and technical instruments company’s stock valued at $11,827,000 after buying an additional 53,984 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Garmin by 3.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 722,581 shares of the scientific and technical instruments company’s stock valued at $36,874,000 after buying an additional 24,777 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Garmin by 46.0% in the second quarter. State of Wisconsin Investment Board now owns 120,741 shares of the scientific and technical instruments company’s stock valued at $6,161,000 after buying an additional 38,020 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Garmin by 8.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 256,239 shares of the scientific and technical instruments company’s stock valued at $13,076,000 after buying an additional 20,690 shares during the period. 39.37% of the stock is currently owned by institutional investors.

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Garmin Company Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Analyst Recommendations for Garmin (NASDAQ:GRMN)

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