Several other research analysts have also weighed in on GRMN. Oppenheimer Holdings, Inc. reiterated a market perform rating on shares of Garmin in a research report on Tuesday, August 8th. BidaskClub lowered Garmin from a sell rating to a strong sell rating in a research report on Friday, August 4th. Longbow Research reiterated a buy rating on shares of Garmin in a research report on Thursday, August 3rd. Morgan Stanley set a $50.00 price objective on Garmin and gave the stock a hold rating in a research report on Monday, July 31st. Finally, Tigress Financial restated a buy rating on shares of Garmin in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $56.33.
Shares of Garmin (NASDAQ:GRMN) opened at $59.55 on Wednesday. The stock has a market capitalization of $11.66 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.45 and a beta of 0.81.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $743.00 million during the quarter, compared to analyst estimates of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. equities research analysts predict that Garmin will post 2.88 earnings per share for the current year.
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In other news, insider Clifton A. Pemble sold 4,066 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $55.00, for a total value of $223,630.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Andrew R. Etkind sold 1,724 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $52.50, for a total value of $90,510.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,020,735 shares of company stock worth $53,154,152. Insiders own 18.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. WFG Advisors LP raised its stake in shares of Garmin by 11.5% in the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 225 shares in the last quarter. US Bancorp DE raised its stake in shares of Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after acquiring an additional 180 shares in the last quarter. Cutler Group LP acquired a new stake in shares of Garmin in the second quarter valued at $188,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Garmin by 72.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,741 shares of the scientific and technical instruments company’s stock valued at $191,000 after acquiring an additional 1,568 shares in the last quarter. Finally, Profund Advisors LLC acquired a new stake in shares of Garmin in the second quarter valued at $202,000. Institutional investors and hedge funds own 39.86% of the company’s stock.
Garmin Company Profile
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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