Several other brokerages also recently commented on GRMN. Morgan Stanley dropped their price objective on shares of Garmin from $141.00 to $127.00 and set an equal weight rating for the company in a research note on Thursday, February 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Garmin from $160.00 to $150.00 in a research note on Thursday, April 28th. Bank of America raised shares of Garmin from a neutral rating to a buy rating and dropped their price target for the company from $165.00 to $140.00 in a research note on Friday, March 18th. Finally, Zacks Investment Research raised shares of Garmin from a sell rating to a hold rating and set a $115.00 price target for the company in a research note on Monday, May 2nd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $148.00.
NYSE:GRMN traded down $2.72 on Friday, hitting $106.03. The company had a trading volume of 709,534 shares, compared to its average volume of 892,046. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 3.45 and a beta of 1.01. The firm has a 50 day moving average of $113.39 and a two-hundred day moving average of $126.66. Garmin has a 52 week low of $104.71 and a 52 week high of $178.80.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Balentine LLC bought a new position in Garmin during the first quarter worth $278,000. Princeton Global Asset Management LLC raised its stake in Garmin by 1.3% during the first quarter. Princeton Global Asset Management LLC now owns 19,540 shares of the scientific and technical instruments company’s stock worth $2,318,000 after buying an additional 250 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Garmin by 14.8% during the first quarter. Quadrant Capital Group LLC now owns 924 shares of the scientific and technical instruments company’s stock worth $110,000 after buying an additional 119 shares during the last quarter. Buckingham Capital Management Inc. bought a new position in Garmin during the first quarter worth $695,000. Finally, Independent Advisor Alliance bought a new position in Garmin during the first quarter worth $324,000. 72.11% of the stock is owned by institutional investors and hedge funds.
About Garmin (Get Rating)
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.
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