Garmin Ltd. (NYSE:GRMN) Stock Rated “Moderate Buy” by Wall Street Analysts

by · The Markets Daily

Shares of Garmin Ltd. (NYSE:GRMN – Get Free Report) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $310.17.

Several research analysts have weighed in on GRMN shares. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Friday, September 4th. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Morgan Stanley increased their target price on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th.

Check Out Our Latest Analysis on Garmin

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 9,941 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total value of $2,975,937.76. Following the transaction, the insider directly owned 29,506 shares in the company, valued at approximately $8,832,916.16. This trade represents a 25.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joshua H. Maxfield sold 1,152 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $291.13, for a total transaction of $335,381.76. Following the sale, the vice president directly owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. This represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,108 shares of company stock worth $4,808,799 in the last ninety days. 14.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Garmin

Large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its position in Garmin by 121.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock valued at $25,041,000 after buying an additional 59,229 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Garmin during the 2nd quarter worth about $1,447,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Garmin in the 2nd quarter worth approximately $1,237,000. Quantinno Capital Management LP boosted its holdings in shares of Garmin by 51.2% in the first quarter. Quantinno Capital Management LP now owns 351,241 shares of the scientific and technical instruments company’s stock valued at $81,491,000 after acquiring an additional 119,011 shares in the last quarter. Finally, Westerkirk Capital Inc. boosted its holdings in shares of Garmin by 88.2% in the fourth quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock valued at $4,199,000 after acquiring an additional 9,700 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $285.90 on Tuesday. The stock has a market cap of $55.14 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 3.14 and a beta of 0.82. Garmin has a one year low of $186.67 and a one year high of $314.28. The business’s 50-day simple moving average is $289.50 and its 200 day simple moving average is $258.85.

Garmin (NYSE:GRMN – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.51. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.Garmin’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 EPS. On average, equities research analysts predict that Garmin will post 10.08 EPS for the current year.

Garmin Company Profile

(Get Free Report)

Garmin Ltd. is a technology company that develops products using global positioning system (GPS), satellite communications and other location-based technologies. The company serves consumers, businesses and professional users through product lines focused on fitness, outdoor recreation, aviation, marine and automotive applications.

Its offerings include smartwatches and fitness trackers, cycling computers, navigation devices, satellite communicators, outdoor handhelds, marine chartplotters and sonar systems, and aviation navigation and communication equipment.

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