Garmin Director Sells $460,000 in Stock (GRMN)
Garmin (NASDAQ:GRMN) Director Philip Straub unloaded 8,000 shares of Garmin stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $57.50, for a total value of $460,000.00. Following the sale, the director now directly owns 34,266 shares of the company’s stock, valued at approximately $1,970,295. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Garmin (NASDAQ:GRMN) traded up 0.58% during mid-day trading on Thursday, hitting $57.40. 496,515 shares of the company’s stock traded hands. Garmin has a 52-week low of $39.39 and a 52-week high of $62.05. The stock has a 50-day moving average of $56.86 and a 200-day moving average of $55.60. The company has a market cap of $11.056 billion and a P/E ratio of 17.13.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, July 30th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Garmin will post $3.07 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on GRMN shares. 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 investment 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. Garmin currently has a consensus rating of “Hold” and an average price target of $57.17.
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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