Share on StockTwits

Equities research analysts at Needham & Company LLC raised their earnings per share (EPS) estimates on shares of Garmin (NASDAQ:GRMN) in a research note issued to investors on Thursday, ARN reports. The firm currently has a “hold” rating on the company’s shares. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on GRMN. Analysts at Zacks reiterated a “neutral” rating on shares of Garmin in a research note on Thursday. They now have a $60.00 price target on the stock. Separately, analysts at DA Davidson reiterated a “neutral” rating on shares of Garmin in a research note on Wednesday. They now have a $60.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Garmin from $58.00 to $65.00 in a research note on Thursday, March 27th. They now have an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $55.61.

Garmin (NASDAQ:GRMN) traded down 0.49% during mid-day trading on Thursday, hitting $56.82. The stock had a trading volume of 1,407,701 shares. Garmin has a 1-year low of $33.67 and a 1-year high of $59.57. The stock’s 50-day moving average is $55.30 and its 200-day moving average is $49.66. The company has a market cap of $11.088 billion and a P/E ratio of 18.30. Garmin also saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 17,422,936 shares, a decrease of 9.8% from the March 31st total of 19,306,587 shares. Based on an average daily trading volume, of 1,390,829 shares, the short-interest ratio is presently 12.5 days. Currently, 15.0% of the company’s shares are short sold.

Garmin (NASDAQ:GRMN) last released its earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.11. The company had revenue of $583.00 million for the quarter, compared to the consensus estimate of $541.00 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Garmin will post $2.63 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.

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.