Garmin Coverage Initiated at Robert W. Baird (GRMN)
Equities researchers at Robert W. Baird started coverage on shares of Garmin (NASDAQ:GRMN) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
In other Garmin news, Director Philip Straub sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $57.50, for a total transaction of $460,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Garmin (NASDAQ:GRMN) traded down 0.40% during mid-day trading on Tuesday, hitting $57.46. 479,086 shares of the company’s stock traded hands. Garmin has a 1-year low of $39.39 and a 1-year high of $62.05. The stock’s 50-day moving average is $56.66 and its 200-day moving average is $55.97. The company has a market cap of $11.068 billion and a P/E ratio of 17.32.
Garmin (NASDAQ:GRMN) last posted its quarterly 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. Analysts expect that Garmin will post $3.08 EPS for the current fiscal year.
A number of other firms have also 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Garmin presently has a consensus rating of “Hold” and an average target price 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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