Garmin (NASDAQ:GRMN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other equities research analysts have also recently weighed in on GRMN. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Thursday, November 2nd. KeyCorp reaffirmed a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Morgan Stanley boosted their target price on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Tigress Financial reissued a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Garmin has an average rating of “Hold” and an average target price of $56.71.

Shares of Garmin (NASDAQ:GRMN) opened at $61.22 on Thursday. Garmin has a 52-week low of $48.50 and a 52-week high of $64.96. The firm has a market cap of $11,461.88, a PE ratio of 16.68, a P/E/G ratio of 2.47 and a beta of 0.95.

In other Garmin news, insider Clifton A. Pemble sold 2,413 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $60.30, for a total transaction of $145,503.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jonathan Burrell sold 127,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $60.37, for a total value of $7,666,990.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 639,621 shares of company stock valued at $39,206,893. Insiders own 18.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake 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 valued at $64,171,000 after buying an additional 1,242,578 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Garmin by 24.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock valued at $119,907,000 after buying an additional 393,740 shares during the period. W. E. Donoghue & Co. LLC acquired a new position in shares of Garmin in the second quarter valued at approximately $15,800,000. PGGM Investments increased its stake in shares of Garmin by 414.6% in the third quarter. PGGM Investments now owns 357,535 shares of the scientific and technical instruments company’s stock valued at $19,296,000 after buying an additional 288,061 shares during the period. Finally, Koch Industries Inc. acquired a new position in shares of Garmin in the second quarter valued at approximately $220,000. 41.81% of the stock is 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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