Shares of Garmin Ltd. (NASDAQ:GRMN) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $56.17.

GRMN has been the topic of a number of research reports. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Thursday. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research report on Friday, December 15th. BidaskClub lowered Garmin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, Morgan Stanley upped their target price on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd.

In related news, major shareholder Jonathan Burrell sold 254,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $62.45, for a total transaction of $15,862,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Desbois sold 1,881 shares of the company’s stock in a transaction on Friday, October 13th. The stock was 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 have sold 1,063,870 shares of company stock worth $64,367,378 over the last ninety days. 18.30% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in GRMN. WFG Advisors LP grew its holdings in Garmin by 11.5% during the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 225 shares in the last quarter. Profund Advisors LLC bought a new stake in Garmin during the second quarter worth $202,000. Bank of Hawaii bought a new stake in Garmin during the third quarter worth $206,000. Cambridge Advisors Inc. bought a new stake in Garmin during the third quarter worth $208,000. Finally, Koch Industries Inc. bought a new stake in Garmin during the second quarter worth $220,000. Institutional investors and hedge funds own 41.54% of the company’s stock.

Garmin (GRMN) opened at $59.74 on Monday. Garmin has a 12 month low of $47.03 and a 12 month high of $63.15. The stock has a market capitalization of $11,201.25, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.85.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $743.00 million for the quarter, compared to analyst estimates of $722.00 million. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. equities research analysts anticipate that Garmin will post 2.9 EPS for the current fiscal year.

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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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