KeyCorp reissued their hold rating on shares of Garmin Ltd. (NASDAQ:GRMN) in a research report report published on Wednesday.

GRMN has been the subject of a number of other research reports. Longbow Research raised Garmin from a neutral rating to a buy rating and set a $60.00 target price for the company in a report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub downgraded Garmin from a hold rating to a sell rating in a report on Friday, July 28th. Zacks Investment Research downgraded Garmin from a buy rating to a hold rating in a report on Tuesday, October 17th. Tigress Financial reissued a buy rating on shares of Garmin in a report on Monday, July 10th. Finally, Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Garmin in a report on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $56.33.

Shares of Garmin (NASDAQ GRMN) opened at $59.55 on Wednesday. Garmin has a fifty-two week low of $46.80 and a fifty-two week high of $60.44. The company has a market capitalization of $11,795.49, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81.

Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The company had revenue of $743.00 million during the quarter, compared to the consensus estimate of $722.00 million. During the same quarter last year, the company earned $0.75 earnings per share. Garmin’s quarterly revenue was up 2.9% compared to the same quarter last year. research analysts anticipate that Garmin will post 2.9 earnings per share for the current fiscal year.

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In other news, VP Andrew R. Etkind sold 2,189 shares of Garmin stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $52.00, for a total transaction of $113,828.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clifton A. Pemble sold 38,302 shares of Garmin stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $60.00, for a total value of $2,298,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,735 shares of company stock valued at $53,154,152 in the last ninety days. Corporate insiders own 18.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in Garmin by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 38,429 shares of the scientific and technical instruments company’s stock worth $1,961,000 after purchasing an additional 100 shares in the last quarter. Thrivent Financial For Lutherans increased its position in Garmin by 2.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,340 shares of the scientific and technical instruments company’s stock worth $221,000 after purchasing an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its position in Garmin by 1.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,580 shares of the scientific and technical instruments company’s stock worth $488,000 after purchasing an additional 120 shares in the last quarter. Wedbush Securities Inc. increased its position in Garmin by 3.3% during the 2nd quarter. Wedbush Securities Inc. now owns 4,867 shares of the scientific and technical instruments company’s stock worth $248,000 after purchasing an additional 156 shares in the last quarter. Finally, US Bancorp DE increased its position in Garmin by 8.8% during the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 39.86% of the company’s stock.

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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