Garmin Price Target Increased to $58.00 by Analysts at Bank of America (GRMN)
Equities researchers at Bank of America increased their price objective on shares of Garmin (NASDAQ:GRMN) from $51.00 to $58.00 in a research report issued on Friday, Analyst RN reports. Bank of America’s price target suggests a potential upside of 12.49% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Jefferson Research upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Friday. Separately, analysts at Wells Fargo & Co. downgraded shares of Garmin from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, analysts at Zacks downgraded shares of Garmin from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 14th. They now have a $48.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.39.
Garmin (NASDAQ:GRMN) traded up 1.28% on Friday, hitting $52.22. 1,558,352 shares of the company’s stock traded hands. Garmin has a one year low of $32.52 and a one year high of $52.72. The stock’s 50-day moving average is $45.98 and its 200-day moving average is $45.34. The company has a market cap of $10.191 billion and a P/E ratio of 16.53.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, February 19th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.14. The company had revenue of $760.00 million for the quarter, compared to the consensus estimate of $712.78 million. On average, analysts predict that Garmin will post $2.61 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.