Garmin (NYSE:GRMN) Given New $188.00 Price Target at Barclays

Garmin (NYSE:GRMN) had its price objective increased by Barclays from $158.00 to $188.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an underweight rating on the scientific and technical instruments company’s stock.

GRMN has been the topic of a number of other reports. Morgan Stanley upgraded Garmin to a “sell” rating and increased their price objective for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Tigress Financial raised their target price on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Garmin has an average rating of “Hold” and an average price target of $195.67.

Garmin Stock Down 5.5 %

NYSE:GRMN opened at $228.61 on Thursday. Garmin has a 12-month low of $128.89 and a 12-month high of $246.50. The firm has a market capitalization of $43.90 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98. The firm has a 50-day moving average price of $212.99 and a 200 day moving average price of $194.84.

Garmin (NYSE:GRMN) last issued its quarterly earnings data 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. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $1.72 earnings per share. On average, research analysts expect that Garmin will post 7.09 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 $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.57%. Garmin’s payout ratio is 38.07%.

Insiders Place Their Bets

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

Institutional Trading of Garmin

Several large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new stake in Garmin in the fourth quarter worth $26,000. Aster Capital Management DIFC Ltd raised its stake in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of Garmin in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC lifted its holdings in shares of Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares in the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of Garmin during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

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.