Shares of Garmin Ltd. (NASDAQ:GRMN) have earned an average recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $51.00.

A number of analysts recently commented on GRMN shares. Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub downgraded shares of Garmin from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Longbow Research reiterated a “buy” rating on shares of Garmin in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Finally, Morgan Stanley set a $50.00 target price on shares of Garmin and gave the stock a “hold” rating in a report on Monday, July 31st.

Garmin (GRMN) opened at 56.41 on Wednesday. Garmin has a 12 month low of $46.80 and a 12 month high of $56.43. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 15.85 and a beta of 0.86. The firm’s 50-day moving average is $53.68 and its 200 day moving average is $51.98.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The company had revenue of $816.89 million for the quarter, compared to the consensus estimate of $806.67 million. During the same period in the previous year, the firm earned $0.87 EPS. Garmin’s revenue was up .7% on a year-over-year basis. Equities analysts predict that Garmin will post $2.80 earnings per share for the current year.

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In related news, insider Clifton A. Pemble sold 4,066 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $55.00, for a total transaction of $223,630.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Patrick Desbois sold 1,881 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $55.00, for a total transaction of $103,455.00. The disclosure for this sale can be found here. Insiders have sold 984,130 shares of company stock worth $50,943,988 over the last ninety days. 18.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wisconsin Investment Board grew its position in Garmin by 46.0% during the second quarter. State of Wisconsin Investment Board now owns 120,741 shares of the scientific and technical instruments company’s stock valued at $6,161,000 after purchasing an additional 38,020 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Garmin by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 722,581 shares of the scientific and technical instruments company’s stock valued at $36,874,000 after purchasing an additional 24,777 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Garmin by 8.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 256,239 shares of the scientific and technical instruments company’s stock valued at $13,076,000 after purchasing an additional 20,690 shares in the last quarter. Cutler Group LP purchased a new position in Garmin during the second quarter valued at approximately $188,000. Finally, Janus Henderson Group PLC grew its position in Garmin by 8,318.2% during the second quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock valued at $64,171,000 after purchasing an additional 1,242,578 shares in the last quarter. 39.66% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Company Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Analyst Recommendations for Garmin (NASDAQ:GRMN)

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