Garmin Ltd. (NYSE:GRMN) Receives Average Rating of “Hold” from Brokerages

Shares of Garmin Ltd. (NYSE:GRMN – Get Rating) have been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $118.80.

GRMN has been the subject of several recent research reports. Morgan Stanley lifted their price target on Garmin from $91.00 to $99.00 and gave the company an “equal weight” rating in a research report on Thursday, February 23rd. KeyCorp started coverage on shares of Garmin in a report on Tuesday, April 18th. They issued a “sector weight” rating for the company. TheStreet upgraded shares of Garmin from a “c+” rating to a “b-” rating in a report on Monday, March 13th. StockNews.com began coverage on Garmin in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Garmin from $108.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd.

Insider Activity

In related news, EVP Patrick Desbois sold 3,991 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $98.50, for a total value of $393,113.50. Following the transaction, the executive vice president now directly owns 47,050 shares of the company’s stock, valued at approximately $4,634,425. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Clifton A. Pemble sold 7,216 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $98.54, for a total value of $711,064.64. Following the completion of the sale, the chief executive officer now directly owns 120,460 shares in the company, valued at $11,870,128.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Patrick Desbois sold 3,991 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $98.50, for a total value of $393,113.50. Following the transaction, the executive vice president now owns 47,050 shares of the company’s stock, valued at approximately $4,634,425. The disclosure for this sale can be found here. Insiders have sold a total of 16,610 shares of company stock valued at $1,635,921 in the last ninety days. Corporate insiders own 20.34% of the company’s stock.

Institutional Trading of Garmin

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Garmin by 9.6% during the 1st quarter. American Century Companies Inc. now owns 9,116 shares of the scientific and technical instruments company’s stock worth $1,081,000 after purchasing an additional 798 shares during the last quarter. Private Advisor Group LLC boosted its position in Garmin by 17.5% during the first quarter. Private Advisor Group LLC now owns 2,831 shares of the scientific and technical instruments company’s stock worth $336,000 after purchasing an additional 422 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Garmin by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,329 shares of the scientific and technical instruments company’s stock worth $2,411,000 after acquiring an additional 1,259 shares during the period. Dimensional Fund Advisors LP raised its stake in Garmin by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,475,149 shares of the scientific and technical instruments company’s stock valued at $174,989,000 after purchasing an additional 11,011 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Garmin by 378.8% during the 1st quarter. Sei Investments Co. now owns 37,785 shares of the scientific and technical instruments company’s stock worth $4,414,000 after purchasing an additional 29,893 shares during the last quarter. Hedge funds and other institutional investors own 63.29% of the company’s stock.

Garmin Trading Up 0.2 %

GRMN opened at $103.77 on Friday. The company’s fifty day moving average price is $99.13 and its two-hundred day moving average price is $97.10. Garmin has a 1-year low of $76.37 and a 1-year high of $108.32. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 3.54 and a beta of 0.94.

Garmin (NYSE:GRMN – Get Rating) last released its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. Garmin had a return on equity of 15.98% and a net margin of 19.94%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $1.11 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Garmin will post 5.24 earnings per share for the current fiscal year.

Garmin Company Profile

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Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation.