Garmin (NYSE:GRMN) Given New $158.00 Price Target at Barclays

Garmin (NYSE:GRMN) had its price objective increased by Barclays from $133.00 to $158.00 in a research note published on Friday, Benzinga reports. Barclays currently has an underweight rating on the scientific and technical instruments company’s stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Tigress Financial raised their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Three equities research 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’s stock. According to MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus target price of $162.67.

Garmin Trading Up 1.0 %

Shares of Garmin stock opened at $200.24 on Friday. The company’s fifty day simple moving average is $174.63 and its 200-day simple moving average is $168.41. The company has a market cap of $38.45 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.99 and a beta of 0.97. Garmin has a 1 year low of $114.49 and a 1 year high of $207.22.

Garmin (NYSE:GRMN) last announced its quarterly earnings data 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 business had revenue of $1.59 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. As a group, research analysts forecast that Garmin will post 6.94 earnings per share for the current fiscal year.

Insider Activity

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the sale, 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 SEC, 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 stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock worth $2,296,174 in the last 90 days. Corporate insiders own 19.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GRMN. Clearstead Trust LLC acquired a new position in shares of Garmin during the 1st quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin during the 2nd quarter worth approximately $31,000. Family Firm Inc. acquired a new position in Garmin in the 2nd quarter valued at $35,000. Benjamin Edwards Inc. grew its holdings in Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Garmin in the 2nd quarter valued at $46,000. 73.41% of the stock is owned by institutional investors and hedge funds.

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.