Garmin (NASDAQ:GRMN) Earns “Buy” Rating from Tigress Financial
Tigress Financial restated their buy rating on shares of Garmin (NASDAQ:GRMN) in a research report released on Tuesday, AnalystRatings.com reports.
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Garmin from a strong-buy rating to a buy rating in a report on Tuesday, April 16th. Credit Suisse Group lifted their target price on shares of Garmin from $58.00 to $71.00 and gave the company an underperform rating in a report on Monday, February 25th. Zacks Investment Research cut shares of Garmin from a strong-buy rating to a hold rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised shares of Garmin from an underweight rating to a neutral rating and cut their target price for the company from $77.00 to $75.00 in a report on Friday, June 7th. Finally, Morgan Stanley set a $81.00 target price on shares of Garmin and gave the company a hold rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $78.66.
GRMN stock opened at $80.21 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 4.04. Garmin has a twelve month low of $59.39 and a twelve month high of $89.72. The company has a market cap of $15.64 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.87 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.84%. Garmin’s payout ratio is 57.45%.
In other news, EVP Patrick Desbois sold 1,749 shares of Garmin stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $86.00, for a total value of $150,414.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 23.83% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Financial Advisors Network Inc. acquired a new position in Garmin in the 1st quarter valued at $239,000. Marshall Wace LLP purchased a new stake in shares of Garmin in the 1st quarter worth about $5,148,000. Cerebellum GP LLC boosted its position in shares of Garmin by 95.5% in the 1st quarter. Cerebellum GP LLC now owns 3,985 shares of the scientific and technical instruments company’s stock worth $344,000 after buying an additional 1,947 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Garmin by 67.1% in the 1st quarter. Advisory Services Network LLC now owns 2,306 shares of the scientific and technical instruments company’s stock worth $199,000 after buying an additional 926 shares in the last quarter. Finally, Cleararc Capital Inc. purchased a new stake in shares of Garmin in the 1st quarter worth about $255,000. 42.60% of the stock is currently owned by institutional investors.
Garmin Company Profile
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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