Garmin Ltd. (NASDAQ:GRMN) has earned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $55.60.

GRMN has been the subject of several recent research reports. Longbow Research restated a “buy” rating on shares of Garmin in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Thursday, November 2nd. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Morgan Stanley boosted their target price on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Finally, KeyCorp restated a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st.

Shares of Garmin (NASDAQ:GRMN) traded down $0.96 during midday trading on Friday, reaching $61.53. 1,030,725 shares of the company traded hands, compared to its average volume of 1,118,343. The company has a market capitalization of $12,190.00, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 2.54 and a beta of 0.80. Garmin has a 12 month low of $47.03 and a 12 month high of $62.61.

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

In other Garmin news, VP Andrew R. Etkind sold 2,189 shares of Garmin stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $52.00, for a total transaction of $113,828.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick Desbois sold 1,881 shares of Garmin stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $55.00, for a total transaction of $103,455.00. The disclosure for this sale can be found here. Insiders have sold 1,322,101 shares of company stock worth $75,219,801 in the last ninety days. Insiders own 18.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GRMN. Janus Henderson Group PLC lifted its holdings in shares of Garmin by 8,318.2% in the second quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock worth $64,171,000 after buying an additional 1,242,578 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Garmin by 117.9% in the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock worth $113,730,000 after buying an additional 1,205,778 shares in the last quarter. Marshall Wace North America L.P. lifted its holdings in shares of Garmin by 3,623.9% in the second quarter. Marshall Wace North America L.P. now owns 732,199 shares of the scientific and technical instruments company’s stock worth $37,343,000 after buying an additional 712,537 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Garmin by 123.5% in the second quarter. Principal Financial Group Inc. now owns 1,158,613 shares of the scientific and technical instruments company’s stock worth $59,123,000 after buying an additional 640,133 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Garmin by 153.9% in the second quarter. Alliancebernstein L.P. now owns 1,042,380 shares of the scientific and technical instruments company’s stock worth $53,193,000 after buying an additional 631,827 shares in the last quarter. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

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About Garmin

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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