Garmin Ltd. (NASDAQ:GRMN) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $75.99.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Monday, February 25th. BidaskClub lowered shares of Garmin from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley set a $81.00 price target on shares of Garmin and gave the company a “hold” rating in a report on Thursday, May 2nd. Longbow Research lowered shares of Garmin from a “buy” rating to a “neutral” rating and set a $81.95 price target on the stock. in a report on Thursday, February 21st. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th.

In other Garmin news, EVP Patrick Desbois sold 1,749 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $86.00, for a total value of $150,414.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.85% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its stake in shares of Garmin by 5,916.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,586,799 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 1,560,423 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Garmin by 207.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 437 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Hilton Capital Management LLC purchased a new stake in shares of Garmin during the 1st quarter worth about $29,000. Hanseatic Management Services Inc. purchased a new stake in shares of Garmin during the 1st quarter worth about $30,000. Finally, Huntington National Bank boosted its stake in shares of Garmin by 244.4% during the 1st quarter. Huntington National Bank now owns 372 shares of the scientific and technical instruments company’s stock worth $32,000 after acquiring an additional 264 shares in the last quarter. 42.10% of the stock is currently owned by institutional investors.

NASDAQ GRMN opened at $77.65 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 4.04. Garmin has a 1 year low of $59.39 and a 1 year high of $89.72. The firm has a market capitalization of $15.38 billion, a P/E ratio of 21.04, a PEG ratio of 2.82 and a beta of 0.90.

Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Garmin had a return on equity of 17.60% and a net margin of 20.72%. The firm had revenue of $766.00 million for the quarter, compared to the consensus estimate of $733.26 million. During the same period in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. On average, analysts expect that Garmin will post 3.75 earnings per share for the current fiscal year.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Further Reading: Buyback

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