Garmin Ltd. (NYSE:GRMN) Given Average Rating of "Reduce" by Brokerages

Shares of Garmin Ltd. (NYSE:GRMN - Get Free Report) have been assigned a consensus rating of "Reduce" from the six analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $162.67.

Several research firms recently weighed in on GRMN. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research note on Friday, November 1st. Tigress Financial raised their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Thursday, September 19th. StockNews.com cut shares of Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Finally, Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th.

Insider Transactions at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,479 shares of company stock worth $2,419,502. Corporate insiders own 19.54% of the company's stock.

Hedge Funds Weigh In On Garmin

Large investors have recently bought and sold shares of the business. Clearstead Trust LLC bought a new stake in Garmin in the first quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the second quarter worth $31,000. Larson Financial Group LLC increased its position in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Garmin during the second quarter worth $35,000. Finally, Benjamin Edwards Inc. increased its position in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock worth $38,000 after acquiring an additional 99 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Down 0.3 %

GRMN stock traded down $0.60 during mid-day trading on Wednesday, reaching $212.98. 781,778 shares of the stock traded hands, compared to its average volume of 860,102. Garmin has a 52 week low of $117.30 and a 52 week high of $214.83. The business has a 50-day moving average of $178.14 and a two-hundred day moving average of $171.31. The firm has a market capitalization of $40.90 billion, a PE ratio of 27.12, a P/E/G ratio of 3.25 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The business's quarterly revenue was up 24.1% compared to the same quarter last year. On average, equities research analysts anticipate that Garmin will post 6.88 EPS for the current fiscal year.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.