Garmin Ltd. (NYSE:GRMN - Get Free Report) has received an average rating of "Reduce" from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $162.67.
A number of research firms recently weighed in on GRMN. Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays boosted their price objective on Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research report on Friday, November 1st. StockNews.com cut Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Finally, Tigress Financial boosted their price target on Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th.
View Our Latest Analysis on GRMN
In other Garmin news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now owns 6,147 shares of the company's stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.54% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GRMN. Cetera Advisors LLC lifted its holdings in shares of Garmin by 77.0% in the 1st quarter. Cetera Advisors LLC now owns 4,755 shares of the scientific and technical instruments company's stock valued at $708,000 after acquiring an additional 2,068 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Garmin by 29.7% in the 2nd quarter. Park Avenue Securities LLC now owns 3,843 shares of the scientific and technical instruments company's stock valued at $626,000 after purchasing an additional 881 shares during the last quarter. CWM LLC lifted its stake in shares of Garmin by 50.8% in the 2nd quarter. CWM LLC now owns 6,350 shares of the scientific and technical instruments company's stock valued at $1,035,000 after purchasing an additional 2,138 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in shares of Garmin by 3.2% in the 2nd quarter. Simplicity Wealth LLC now owns 4,707 shares of the scientific and technical instruments company's stock worth $767,000 after purchasing an additional 144 shares during the period. Finally, Czech National Bank increased its position in shares of Garmin by 8.7% during the 2nd quarter. Czech National Bank now owns 29,281 shares of the scientific and technical instruments company's stock valued at $4,770,000 after purchasing an additional 2,350 shares during the last quarter. 73.41% of the stock is owned by hedge funds and other institutional investors.
Shares of GRMN opened at $218.58 on Friday. The business has a 50-day simple moving average of $190.98 and a two-hundred day simple moving average of $177.05. Garmin has a 52 week low of $119.15 and a 52 week high of $219.54. The stock has a market cap of $41.97 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.42 and a beta of 0.97.
Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted $1.41 EPS. The firm's quarterly revenue was up 24.1% compared to the same quarter last year. On average, equities analysts anticipate that Garmin will post 7.01 earnings per share for the current fiscal year.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Garmin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Garmin wasn't on the list.
While Garmin currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.