Brokerages Set Garmin Ltd. (NYSE:GRMN) PT at $158.50

Shares of Garmin Ltd. (NYSE:GRMN - Get Free Report) have been given an average rating of "Reduce" by the six brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $158.50.

GRMN has been the subject of a number of research analyst reports. Tigress Financial lifted their price target on Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Barclays downgraded Garmin from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $181.00 to $133.00 in a report on Friday, September 13th. Finally, StockNews.com downgraded shares of Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm'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 of the company's stock, valued at approximately $7,257,359.40. This trade 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 can be accessed through this hyperlink. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares of the company's stock, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Straub sold 2,750 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company's stock, valued at approximately $16,081,348.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Garmin

A number of large investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the 2nd quarter worth $31,000. Clearstead Trust LLC acquired a new stake in shares of Garmin during the 1st quarter valued at $30,000. Family Firm Inc. bought a new position in Garmin in the second quarter valued at about $35,000. Benjamin Edwards Inc. boosted its stake 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 valued at $38,000 after purchasing an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Garmin during the second quarter worth about $46,000. Institutional investors and hedge funds own 73.41% of the company's stock.

Garmin Trading Up 0.6 %

Shares of Garmin stock traded up $1.06 on Friday, reaching $167.58. 740,979 shares of the company were exchanged, compared to its average volume of 833,434. The company has a market capitalization of $32.19 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 2.85 and a beta of 0.99. Garmin has a one year low of $99.61 and a one year high of $184.42. The company has a 50-day moving average of $174.03 and a 200 day moving average of $165.60.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.18. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $1.45 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. Analysts predict that Garmin will post 6.08 earnings per share for the current 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.