Garmin Receives Average Recommendation of “Hold” from Analysts (NASDAQ:GRMN)
Shares of Garmin (NASDAQ:GRMN) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Analyst RN reports. Eight equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $55.61.
In other Garmin news, Insider Pao-Chang Huang sold 16,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $57.26, for a total transaction of $916,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on GRMN shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Garmin in a research note on Tuesday, May 27th. They now have a $65.00 price target on the stock. Separately, analysts at Needham & Company LLC raised their EPS on shares of Garmin in a research note on Thursday, May 1st. They now have a “hold” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Garmin in a research note on Thursday, May 1st. They now have a $60.00 price target on the stock.
Shares of Garmin (NASDAQ:GRMN) traded up 2.11% during mid-day trading on Friday, hitting $60.11. The stock had a trading volume of 315,596 shares. Garmin has a 1-year low of $33.67 and a 1-year high of $59.57. The stock has a 50-day moving average of $56.62 and a 200-day moving average of $51.36. The company has a market cap of $11.708 billion and a price-to-earnings ratio of 17.94.
Garmin (NASDAQ:GRMN) last released its earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.11. The company had revenue of $583.00 million for the quarter, compared to the consensus estimate of $541.00 million. During the same quarter last year, the company posted $0.40 earnings per share. Garmin’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Garmin will post $2.77 earnings per share for the current fiscal year.
Garmin Ltd. (NASDAQ:GRMN) is a provider of navigation, communication and information devices and applications, which are enabled by global positioning system (GPS) technology.
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