Garmin Ltd. (NASDAQ:GRMN) Receives Average Recommendation of “Hold” from Analysts

Garmin Ltd. (NASDAQ:GRMN) has been given a consensus recommendation of “Hold” by the nine analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $76.59.

Several research analysts have weighed in on the company. BidaskClub upgraded Garmin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Morgan Stanley lifted their target price on Garmin from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Tigress Financial reiterated a “buy” rating on shares of Garmin in a report on Friday, August 16th. Finally, ValuEngine lowered Garmin from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.

Shares of Garmin stock opened at $95.89 on Thursday. The company has a quick ratio of 1.93, a current ratio of 2.64 and a debt-to-equity ratio of 0.01. Garmin has a 12 month low of $59.98 and a 12 month high of $97.60. The business has a fifty day simple moving average of $88.39 and a 200 day simple moving average of $82.12. The stock has a market cap of $18.99 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.14 and a beta of 0.91.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.32. Garmin had a return on equity of 18.73% and a net margin of 21.79%. The business had revenue of $934.38 million during the quarter, compared to analysts’ expectations of $869.02 million. During the same period in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts expect that Garmin will post 4.16 EPS for the current fiscal year.

In other Garmin news, Chairman Min H. Kao sold 254,517 shares of Garmin stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $94.88, for a total transaction of $24,148,572.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 2,726 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $93.58, for a total value of $255,099.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,102,941 shares of company stock worth $101,503,627. Corporate insiders own 23.83% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of Garmin by 7.9% in the second quarter. Signaturefd LLC now owns 1,937 shares of the scientific and technical instruments company’s stock valued at $155,000 after purchasing an additional 141 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Garmin by 2.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 7,582 shares of the scientific and technical instruments company’s stock valued at $605,000 after purchasing an additional 155 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Garmin by 4.3% in the third quarter. Oppenheimer & Co. Inc. now owns 4,288 shares of the scientific and technical instruments company’s stock valued at $363,000 after purchasing an additional 177 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Garmin by 9.3% in the third quarter. Parallel Advisors LLC now owns 2,244 shares of the scientific and technical instruments company’s stock valued at $190,000 after purchasing an additional 190 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Garmin by 0.5% in the second quarter. M&T Bank Corp now owns 41,077 shares of the scientific and technical instruments company’s stock valued at $3,280,000 after purchasing an additional 193 shares in the last quarter. Institutional investors own 42.27% of the company’s stock.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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Analyst Recommendations for Garmin (NASDAQ:GRMN)

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