Garmin (NASDAQ:GRMN)‘s stock had its “neutral” rating reissued by stock analysts at Robert W. Baird in a research note issued to investors on Thursday. They presently have a $60.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $57.00. Robert W. Baird’s price target indicates a potential downside of 0.65% from the company’s current price.
A number of other research firms have also issued reports on GRMN. BidaskClub raised Garmin from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Credit Suisse Group reaffirmed an “underperform” rating and set a $58.00 price objective (up previously from $48.00) on shares of Garmin in a report on Tuesday, December 12th. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Thursday, January 4th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $57.13.
Garmin (NASDAQ:GRMN) traded down $1.48 during trading hours on Thursday, hitting $60.39. The stock had a trading volume of 2,014,400 shares, compared to its average volume of 1,334,076. The firm has a market capitalization of $11,320.00, a price-to-earnings ratio of 16.41, a P/E/G ratio of 2.43 and a beta of 0.94. Garmin has a 1-year low of $48.50 and a 1-year high of $65.96.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.04. The business had revenue of $888.49 million for the quarter, compared to analyst estimates of $872.73 million. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. research analysts expect that Garmin will post 3.05 earnings per share for the current year.
In other Garmin news, insider Clifton A. Pemble sold 36,208 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.00, for a total value of $2,353,520.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Biddlecombe sold 755 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total value of $45,904.00. The disclosure for this sale can be found here. Insiders sold 290,963 shares of company stock worth $18,261,724 in the last three months. 18.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Heartland Advisors Inc. purchased a new stake in shares of Garmin in the fourth quarter valued at $208,000. Garrison Financial Corp purchased a new stake in shares of Garmin in the fourth quarter valued at $211,000. Bank of Hawaii purchased a new stake in shares of Garmin in the third quarter valued at $206,000. Cambridge Advisors Inc. purchased a new stake in shares of Garmin in the third quarter valued at $208,000. Finally, Sigma Planning Corp purchased a new stake in shares of Garmin in the third quarter valued at $241,000. Institutional investors and hedge funds own 40.57% of the company’s stock.
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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.
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