Garmin Ltd. (GRMN) Receives $56.17 Consensus PT from Brokerages

Shares of Garmin Ltd. (NASDAQ:GRMN) have been given a consensus rating of “Hold” by the twelve research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $53.80.

GRMN has been the topic of a number of recent research reports. Credit Suisse Group reiterated an “underperform” rating and set a $58.00 price target (up from $48.00) on shares of Garmin in a research report on Tuesday, December 12th. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Morgan Stanley increased their price target on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Finally, Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Friday, December 15th.

Shares of Garmin (NASDAQ GRMN) traded up $0.95 during midday trading on Monday, reaching $61.42. 915,813 shares of the company’s stock were exchanged, compared to its average volume of 1,100,000. Garmin has a twelve month low of $47.03 and a twelve month high of $63.15. The company has a market capitalization of $11,520.00, a PE ratio of 16.74, a P/E/G ratio of 2.42 and a beta of 0.83.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The business had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $722.00 million. During the same period last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. sell-side analysts predict that Garmin will post 2.9 earnings per share for the current year.

In other news, insider Clifton A. Pemble sold 38,302 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.00, for a total transaction of $2,298,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jonathan Burrell sold 254,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $62.45, for a total value of $15,862,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,063,870 shares of company stock valued at $64,367,378. Insiders own 18.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in GRMN. Schwab Charles Investment Management Inc. boosted its stake in shares of Garmin by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 722,581 shares of the scientific and technical instruments company’s stock valued at $36,874,000 after purchasing an additional 24,777 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Garmin by 12.3% during the second quarter. Victory Capital Management Inc. now owns 10,997 shares of the scientific and technical instruments company’s stock valued at $561,000 after purchasing an additional 1,207 shares during the period. Swiss National Bank boosted its stake in shares of Garmin by 10.6% during the second quarter. Swiss National Bank now owns 464,748 shares of the scientific and technical instruments company’s stock valued at $23,716,000 after purchasing an additional 44,500 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Garmin by 7.5% during the second quarter. Oppenheimer & Co. Inc. now owns 10,824 shares of the scientific and technical instruments company’s stock valued at $553,000 after purchasing an additional 758 shares during the period. Finally, Tredje AP fonden boosted its stake in shares of Garmin by 7.3% during the second quarter. Tredje AP fonden now owns 44,430 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after purchasing an additional 3,030 shares during the period. 41.54% of the stock is owned by hedge funds and other institutional investors.

WARNING: This piece of content was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://stocknewstimes.com/2018/01/12/garmin-ltd-grmn-receives-56-17-consensus-pt-from-brokerages.html.

Garmin Company Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Analyst Recommendations for Garmin (NASDAQ:GRMN)

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply