Garmin Ltd. (NYSE:GRMN) Given Consensus Rating of “Moderate Buy” by Brokerages

Garmin Ltd. (NYSE:GRMNGet Rating) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $122.40.

Several research firms have recently weighed in on GRMN. StockNews.com began coverage on shares of Garmin in a report on Wednesday, October 12th. They set a “hold” rating for the company. Bank of America lowered shares of Garmin from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $137.00 to $109.00 in a report on Tuesday, August 2nd. Tigress Financial dropped their price objective on shares of Garmin from $208.00 to $165.00 and set a “strong-buy” rating for the company in a report on Friday, August 5th. Barclays began coverage on shares of Garmin in a report on Wednesday, November 9th. They set an “equal weight” rating and a $97.00 price objective for the company. Finally, Morgan Stanley lowered their price target on shares of Garmin from $96.00 to $91.00 and set an “equal weight” rating for the company in a report on Monday, October 17th.

Garmin Trading Up 0.3 %

NYSE GRMN opened at $91.03 on Friday. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 3.26 and a beta of 0.97. The company has a 50 day moving average of $83.96 and a 200-day moving average of $92.75. Garmin has a 1-year low of $76.37 and a 1-year high of $145.31.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 19,836 shares of Garmin stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $90.00, for a total transaction of $1,785,240.00. Following the completion of the sale, the chief executive officer now owns 125,664 shares of the company’s stock, valued at approximately $11,309,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of Garmin stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $90.00, for a total transaction of $859,500.00. Following the completion of the sale, the chief executive officer now owns 135,950 shares of the company’s stock, valued at approximately $12,235,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 19,836 shares of Garmin stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $90.00, for a total transaction of $1,785,240.00. Following the sale, the chief executive officer now directly owns 125,664 shares of the company’s stock, valued at approximately $11,309,760. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,589 shares of company stock valued at $2,662,269. Company insiders own 20.34% of the company’s stock.

Hedge Funds Weigh In On Garmin

A number of hedge funds and other institutional investors have recently made changes to their positions in GRMN. Steward Partners Investment Advisory LLC boosted its position in shares of Garmin by 3.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 7,378 shares of the scientific and technical instruments company’s stock worth $875,000 after purchasing an additional 239 shares in the last quarter. Brandywine Oak Private Wealth LLC boosted its position in shares of Garmin by 13.5% during the first quarter. Brandywine Oak Private Wealth LLC now owns 2,057 shares of the scientific and technical instruments company’s stock worth $243,000 after purchasing an additional 244 shares in the last quarter. Metis Global Partners LLC bought a new position in shares of Garmin during the first quarter worth $287,000. Appleton Group LLC boosted its position in shares of Garmin by 56.9% during the first quarter. Appleton Group LLC now owns 2,973 shares of the scientific and technical instruments company’s stock worth $353,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Garmin by 2.2% during the first quarter. Arizona State Retirement System now owns 42,827 shares of the scientific and technical instruments company’s stock worth $5,080,000 after purchasing an additional 937 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Garmin Company Profile

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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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