Favorable Press Coverage Somewhat Unlikely to Affect Garmin (GRMN) Stock Price

Media stories about Garmin (NASDAQ:GRMN) have trended positive recently, according to Accern. Accern rates the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Garmin earned a media sentiment score of 0.27 on Accern’s scale. Accern also gave press coverage about the scientific and technical instruments company an impact score of 46.9552054539614 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

These are some of the media headlines that may have impacted Accern Sentiment’s scoring:

Garmin (NASDAQ GRMN) opened at $59.55 on Friday. The stock has a market capitalization of $11,795.49, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.48 and a beta of 0.81. Garmin has a 1-year low of $46.80 and a 1-year high of $60.44.

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 (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. Garmin’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. research analysts predict that Garmin will post 2.9 EPS for the current fiscal year.

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a report on Thursday. KeyCorp reissued a “hold” rating on shares of Garmin in a report on Wednesday. BidaskClub raised Garmin from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $56.33.

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In other Garmin news, EVP Patrick Desbois sold 1,881 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $55.00, for a total transaction of $103,455.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jonathan Burrell sold 232,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $51.36, for a total value of $11,915,520.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,020,735 shares of company stock valued at $53,154,152. 18.30% of the stock is currently owned by insiders.

About Garmin

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.

Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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