Garmin (NYSE:GRMN) Price Target Raised to $285.00 at Tigress Financial

Garmin (NYSE:GRMN) had its target price raised by Tigress Financial from $265.00 to $285.00 in a report published on Wednesday,Benzinga reports. Tigress Financial currently has a strong-buy rating on the scientific and technical instruments company’s stock.

GRMN has been the subject of several other research reports. JPMorgan Chase & Co. raised their target price on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Barclays increased their price objective 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. Finally, Morgan Stanley upgraded Garmin to a “sell” rating and boosted their target price for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Garmin has a consensus rating of “Hold” and a consensus target price of $210.80.

Garmin Price Performance

Shares of GRMN stock opened at $226.39 on Wednesday. The company has a market cap of $43.56 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. Garmin has a 1 year low of $134.01 and a 1 year high of $246.50. The stock’s 50 day simple moving average is $214.29 and its two-hundred day simple moving average is $196.97.

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

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.59%. Garmin’s payout ratio is 41.04%.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GRMN. Private Advisor Group LLC grew its position in shares of Garmin by 2.0% during the 3rd quarter. Private Advisor Group LLC now owns 4,314 shares of the scientific and technical instruments company’s stock worth $759,000 after buying an additional 83 shares in the last quarter. International Assets Investment Management LLC bought a new position in Garmin during the 3rd quarter worth about $13,448,000. Assenagon Asset Management S.A. grew its holdings in Garmin by 16.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,794 shares of the scientific and technical instruments company’s stock worth $2,956,000 after acquiring an additional 2,349 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Garmin by 34.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,935 shares of the scientific and technical instruments company’s stock valued at $1,729,000 after purchasing an additional 2,547 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Garmin by 96.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,021 shares of the scientific and technical instruments company’s stock valued at $4,052,000 after purchasing an additional 11,295 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other 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.