Garmin Ltd. (NYSE:GRMN) Receives $310.17 Consensus Price Target from Analysts

Shares of Garmin Ltd. (NYSE:GRMN) have received an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $310.1667.

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Barclays upped their price objective on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. UBS Group set a $370.00 price target on shares of Garmin in a research report on Thursday, August 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Garmin in a research note on Wednesday, September 2nd. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th.

Garmin Stock Down 0.0%

Shares of NYSE:GRMN opened at $272.13 on Friday. Garmin has a fifty-two week low of $186.67 and a fifty-two week high of $314.28. The company has a market cap of $52.48 billion, a PE ratio of 28.05, a P/E/G ratio of 3.04 and a beta of 0.85. The company’s 50-day moving average price is $275.67 and its 200 day moving average price is $254.10.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. Garmin’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.17 earnings per share. As a group, equities analysts anticipate that Garmin will post 10.08 EPS for the current year.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 9,941 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total value of $2,975,937.76. Following the completion of the sale, the insider directly owned 29,506 shares of the company’s stock, valued at approximately $8,832,916.16. This represents a 25.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clifton Pemble sold 4,029 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the transaction, the chief executive officer owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. This trade represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,108 shares of company stock worth $4,808,799 over the last 90 days. 14.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Garmin

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in Garmin by 23,029.3% during the second quarter. California State Teachers Retirement System now owns 59,413,980 shares of the scientific and technical instruments company’s stock worth $14,113,197,000 after buying an additional 59,157,102 shares in the last quarter. State Street Corp increased its holdings in shares of Garmin by 1.8% in the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after buying an additional 126,677 shares in the last quarter. Norges Bank acquired a new stake in shares of Garmin during the 4th quarter valued at $395,234,000. Northern Trust Corp lifted its position in shares of Garmin by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock valued at $348,836,000 after acquiring an additional 63,283 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Garmin by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock worth $378,540,000 after acquiring an additional 40,474 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Company Profile

Garmin Ltd. is a technology company that develops products and services based on global positioning system (GPS) and other navigation technologies. The company serves consumers, businesses and specialized markets through its fitness, outdoor, aviation, marine and automotive original equipment manufacturer (OEM) segments.

Its product portfolio includes smartwatches and cycling computers, sports and activity trackers, outdoor navigation devices, satellite communication products, aviation avionics and navigation systems, marine chartplotters and sonar equipment, and in-vehicle navigation and infotainment solutions.