Insider Selling: Danny J. Bartel Sells 10,000 Shares of Garmin Stock (GRMN)
Garmin (NASDAQ:GRMN) VP Danny J. Bartel sold 10,000 shares of Garmin stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $55.52, for a total transaction of $555,200.00. Following the sale, the vice president now directly owns 75,970 shares of the company’s stock, valued at approximately $4,217,854. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on GRMN. Analysts at Zacks reiterated an “outperform” rating on shares of Garmin in a research note on Thursday, July 31st. They now have a $65.00 price target on the stock. Separately, analysts at Davidson raised their price target on shares of Garmin from $60.00 to $62.00 in a research note on Thursday, July 31st. They now have a “neutral” rating on the stock. Finally, analysts at DA Davidson reiterated a “neutral” rating on shares of Garmin in a research note on Thursday, July 31st. They now have a $60.00 price target on the stock, down previously from $62.00. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $57.17.
Shares of Garmin (NASDAQ:GRMN) opened at 56.07 on Monday. Garmin has a 1-year low of $37.71 and a 1-year high of $62.05. The stock’s 50-day moving average is $57.24 and its 200-day moving average is $55.29. The company has a market cap of $10.800 billion and a P/E ratio of 16.74.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.02 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.26. The company had revenue of $778.00 million for the quarter, compared to the consensus estimate of $709.25 million. During the same quarter last year, the company posted $0.76 earnings per share. Garmin’s revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Garmin will post $3.07 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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