Garmin Receives New Coverage from Analysts at Atlantic Securities (GRMN)
Investment analysts at Atlantic Securities assumed coverage on shares of Garmin (NASDAQ:GRMN) in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Garmin in a research note to investors on Thursday. They now have a $39.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Garmin from $39.00 to $50.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Finally, analysts at Dougherty & Co upgraded shares of Garmin from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.75.
Shares of Garmin (NASDAQ:GRMN) opened at 47.13 on Monday. Garmin has a 52 week low of $32.52 and a 52 week high of $47.56. The stock has a 50-day moving average of $42.72 and a 200-day moving average of $37.28. The company has a market cap of $9.205 billion and a P/E ratio of 17.46.
Garmin (NASDAQ:GRMN) last released its earnings data 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 last year, the company posted $0.98 earnings per share. Garmin’s revenue was down 3.0% compared to the same quarter last 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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