Garmin (NASDAQ:GRMN)‘s stock had its “underperform” rating reissued by investment analysts at Credit Suisse Group in a report released on Tuesday, The Fly reports. They presently have a $58.00 price objective on the scientific and technical instruments company’s stock, up from their prior price objective of $48.00. Credit Suisse Group’s target price would indicate a potential downside of 6.39% from the company’s current price.

A number of other equities analysts have also issued reports on GRMN. BidaskClub lowered Garmin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Thursday, November 2nd. KeyCorp reissued a “hold” rating on shares of Garmin in a report on Wednesday, November 1st. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Finally, Morgan Stanley raised their price target on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $56.57.

Shares of Garmin (NASDAQ GRMN) opened at $61.96 on Tuesday. Garmin has a 52-week low of $47.03 and a 52-week high of $63.15. The company has a market capitalization of $11,675.63, a PE ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.84.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.09. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The business had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $722.00 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. research analysts expect that Garmin will post 2.9 earnings per share for the current fiscal year.

In other Garmin news, VP Andrew R. Etkind sold 2,073 shares of Garmin stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $53.00, for a total value of $109,869.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Patrick Desbois sold 1,881 shares of Garmin stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $55.00, for a total value of $103,455.00. The disclosure for this sale can be found here. Insiders sold a total of 1,318,188 shares of company stock worth $77,620,233 in the last ninety days. 18.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GRMN. Janus Capital Management lifted its position in shares of Garmin by 9.1% during the 3rd quarter. Janus Capital Management now owns 1,249,648 shares of the scientific and technical instruments company’s stock valued at $44,837,000 after acquiring an additional 103,783 shares during the period. Capital Impact Advisors acquired a new stake in shares of Garmin during the 4th quarter valued at approximately $413,000. Capstone Asset Management Company lifted its position in shares of Garmin by 12.0% during the 4th quarter. Capstone Asset Management Company now owns 10,354 shares of the scientific and technical instruments company’s stock valued at $385,000 after acquiring an additional 1,106 shares during the period. Dynamic Advisors Solutions acquired a new stake in shares of Garmin during the 4th quarter valued at approximately $2,772,000. Finally, Hamlin Capital Management LLC acquired a new stake in shares of Garmin during the 4th quarter valued at approximately $11,342,000. 39.37% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Credit Suisse Group Reaffirms Underperform Rating for Garmin (GRMN)” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/12/credit-suisse-group-reaffirms-underperform-rating-for-garmin-grmn.html.

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.

The Fly

Analyst Recommendations for Garmin (NASDAQ:GRMN)

Receive News & Ratings for Garmin Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.