Garmin Stock Rating Reaffirmed by Goldman Sachs Group Inc. (GRMN)
Garmin (NASDAQ:GRMN)‘s stock had its “hold” rating reaffirmed by research analysts at Goldman Sachs Group Inc. in a report released on Thursday, American Banking and Market News reports. They currently have a $39.00 price target on the stock. Goldman Sachs Group Inc.’s target price would indicate a potential downside of 17.14% from the company’s current price.
A number of other analysts have also recently weighed in on GRMN. Analysts at RBC Capital raised their price target on shares of Garmin (NASDAQ:GRMN) from $39.00 to $50.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Separately, 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. 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 assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.75.
Shares of Garmin (NASDAQ:GRMN) traded down 0.29% during mid-day trading on Thursday, hitting $47.065. 2,166,974 shares of the company’s stock traded hands. Garmin has a one year low of $32.52 and a one year high of $47.27. The stock’s 50-day moving average is $42.47 and its 200-day moving average is $37.19. The company has a market cap of $9.193 billion and a P/E ratio of 17.48.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, July 31st. The company reported $0.76 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts predict that Garmin will post $2.40 earnings per share 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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