Stocks of Garmin Ltd. (NYSE:GRMN) traded higher last session on Wall Street, up 1.30% to $107.73.
According to the data, Garmin Ltd. (NYSE:GRMN) has 6 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $115.00 and a low of $104.00, we find $113.00. Given the previous closing price of $106.35, this indicates a potential upside of 6.25 percent. GRMN stock price is now 2.34% away from the 50-day moving average and 10.29% away from the 200-day moving average. The market capitalization of the company currently stands at $20.70B.
A total of 5 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $110.67 as their price target over the next twelve months.
In other news, Boessen Douglas G., CFO and Treasurer sold 15,653 shares of the company’s stock on Jun 12. The stock was sold for $1,650,964 at an average price of $105.47. Upon completion of the transaction, the CFO and Treasurer now directly owns 23,843 shares in the company, valued at $2.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 28, VP, Man. Director – Auto OEM Munn Matthew sold 4,536 shares of the business’s stock. A total of $446,180 was realized by selling the stock at an average price of $98.36. This leaves the insider owning 9,023 shares of the company worth $0.97 million. Insiders disposed of 10,514,059 shares of company stock worth roughly $1.13 billion over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GRMN stock. A new stake in Garmin Ltd. shares was purchased by TWINBEECH CAPITAL LP during the first quarter worth $17,278,000. SW INVESTMENT MANAGEMENT LLC invested $16,160,000 in shares of GRMN during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Garmin Ltd. valued at approximately $12,011,000. TORONTO DOMINION BANK acquired a new stake in GRMN for approximately $8,575,000. MACKENZIE FINANCIAL CORP purchased a new stake in GRMN valued at around $6,847,000 in the second quarter.
Wednesday’s opening bell rang with an opening price of $105.53 for Garmin Ltd. (NYSE: GRMN). During the past 12 months, Garmin Ltd. has had a low of $76.37 and a high of $108.23. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.90, and a quick ratio of 2.50. According to the stock market information, the enterprise value for the company is $18.90B, which is based on a 21.52 price-to-earnings ratio, a 3.84 price-to-earnings-growth ratio, and a beta of 0.93. The fifty day moving average price for GRMN is $105.35 and a two-hundred day moving average price translates $97.82 for the stock.
The net profit margin was 19.90% and return on equity was 15.80% for GRMN. The company reported revenue of $1.15 billion for the quarter, compared to $1.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.15 percent.
Moreover, the firm recently paid out its quarterly dividend on 03/29/2024. Investors who held shares on 03/15/2024 were paid a $0.73 dividend. On an annualized basis, this represents a $2.92 dividend and a 2.71% percent yield. There was an ex-dividend date of 03/14/2024 for this dividend. In terms of dividend payout ratio, GRMN is presently at 101.80%.
