Garmin Ltd. (NYSE:GRMN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Garmin Ltd. (NYSE:GRMN) have received a consensus rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $142.33.

A number of analysts recently weighed in on GRMN shares. Bank of America upped their price target on shares of Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 price objective (up from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Finally, Barrington Research upped their target price on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd.

Garmin Trading Up 0.3 %

Shares of Garmin stock opened at $143.45 on Friday. The company has a fifty day moving average price of $142.51 and a 200 day moving average price of $127.57. Garmin has a twelve month low of $95.40 and a twelve month high of $149.54. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 4.68 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.32. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company earned $1.35 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. Analysts forecast that Garmin will post 5.45 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.09%. Garmin’s payout ratio is 43.52%.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the transaction, the chief executive officer now owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the transaction, the director now owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at approximately $21,379,016.61. The disclosure for this sale can be found here. Insiders have sold 99,476 shares of company stock valued at $14,166,944 over the last quarter. Insiders own 19.89% of the company’s stock.

Institutional Investors Weigh In On Garmin

Hedge funds have recently made changes to their positions in the business. Wetzel Investment Advisors Inc. bought a new stake in shares of Garmin during the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $33,000. Avior Wealth Management LLC raised its holdings in shares of Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 178 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 99 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $51,000. Institutional investors own 73.41% of the company’s stock.

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.