Garmin Receives Average Rating of “Hold” from Analysts (NASDAQ:GRMN)
Shares of Garmin (NASDAQ:GRMN) have been given a consensus recommendation of “Hold” by the sixteen ratings firms that are presently covering the stock, Analyst Ratings.Net reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $57.17.
In other Garmin news, Director Philip Straub sold 8,000 shares of the company’s 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 transaction of $460,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Garmin (NASDAQ:GRMN) opened at 57.69 on Tuesday. Garmin has a 52-week low of $39.39 and a 52-week 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 $11.112 billion and a price-to-earnings ratio of 17.32.
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. Analysts expect that Garmin will post $3.08 EPS 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.
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.