Insider Buying: Garmin Director Acquires 1,000 Shares of Stock (GRMN)
Garmin (NASDAQ:GRMN) Director Joseph J. Hartnett bought 1,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $55.94 per share, for a total transaction of $55,940.00. Following the transaction, the director now directly owns 5,412 shares in the company, valued at approximately $302,747. The purchase was disclosed in a legal filing with the SEC, which can be accessed through 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 given a buy rating to the company. Garmin presently has a consensus rating of “Hold” and an average price target of $57.17.
Shares of Garmin (NASDAQ:GRMN) traded up 0.20% during mid-day trading on Tuesday, hitting $56.11. The stock had a trading volume of 1,036,381 shares. Garmin has a 52-week low of $37.71 and a 52-week high of $62.05. The stock’s 50-day moving average is $57.11 and its 200-day moving average is $55.44. The company has a market cap of $10.808 billion and a price-to-earnings ratio of 16.81.
Garmin (NASDAQ:GRMN) last announced its 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.