Garmin (NASDAQ:GRMN)‘s stock had its “hold” rating reaffirmed by investment analysts at Credit Suisse Group in a note issued to investors on Thursday.
A number of other research analysts also recently issued reports on the company. BidaskClub upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Tigress Financial restated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Finally, Morgan Stanley raised their price target on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $57.13.
Garmin (NASDAQ GRMN) opened at $60.35 on Thursday. The stock has a market capitalization of $11,310.00, a P/E ratio of 16.40, a P/E/G ratio of 2.36 and a beta of 0.94. Garmin has a 12 month low of $48.50 and a 12 month high of $65.96.
Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $888.49 million for the quarter, compared to the consensus estimate of $872.73 million. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. analysts forecast that Garmin will post 3.07 earnings per share for the current year.
In other Garmin news, major shareholder Jonathan Burrell sold 254,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $62.45, for a total transaction of $15,862,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clifton A. Pemble sold 36,208 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 290,963 shares of company stock valued at $18,261,724 over the last ninety days. 18.30% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of GRMN. BlackRock Inc. lifted its holdings in shares of Garmin by 1.3% in the 4th quarter. BlackRock Inc. now owns 11,270,906 shares of the scientific and technical instruments company’s stock valued at $671,406,000 after buying an additional 141,665 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Garmin by 24.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock valued at $119,907,000 after buying an additional 393,740 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Garmin by 0.6% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 1,624,085 shares of the scientific and technical instruments company’s stock valued at $96,747,000 after buying an additional 9,409 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Garmin by 14.6% in the 4th quarter. Geode Capital Management LLC now owns 1,506,624 shares of the scientific and technical instruments company’s stock valued at $89,595,000 after buying an additional 191,405 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Garmin by 12.6% in the 4th quarter. Schroder Investment Management Group now owns 1,460,465 shares of the scientific and technical instruments company’s stock valued at $87,000,000 after buying an additional 163,211 shares during the period. 40.57% of the stock is owned by institutional investors.
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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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