Garmin Sees Unusually High Options Volume (GRMN)
Garmin (NASDAQ:GRMN) was the target of some unusual options trading on Wednesday. Investors purchased 19,158 call options on the company, Stock Ratings Network.com reports. This represents an increase of approximately 1,084% compared to the typical volume of 1,618 call options.
GRMN has been the subject of a number of recent research reports. Analysts at Dougherty & Co upgraded shares of Garmin (NASDAQ:GRMN) from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, August 22nd. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Garmin (NASDAQ:GRMN) from a “sell” rating to a “neutral” rating in a research note to investors on Wednesday, August 21st. They now have a $39.00 price target on the stock, up previously from $34.00. Finally, analysts at TheStreet upgraded shares of Garmin (NASDAQ:GRMN) to a “buy” rating in a research note to investors on Friday, August 2nd.
One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.92.
Garmin (NASDAQ:GRMN) opened at 43.23 on Thursday. Garmin has a 52 week low of $32.52 and a 52 week high of $43.61. The stock has a 50-day moving average of $39.70 and a 200-day moving average of $36.09. The company has a market cap of $8.444 billion and a price-to-earnings ratio of 16.01.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, July 31st. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.65 by $0.11. The company had revenue of $697.00 million for the quarter, compared to the consensus estimate of $665.84 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. Analysts expect that Garmin will post $2.40 EPS for the current fiscal year.
Garmin Ltd. (NASDAQ:GRMN) is a provider of navigation, communication and information devices and applications, which are enabled by global positioning system (GPS) technology.
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