Morgan Stanley Maintains Garmin Ltd. to Equal-weight with Price Target $42.00

Brokerage firm Morgan Stanley Maintains its rating on Garmin Ltd.(NASDAQ:GRMN). In a research note issued to the investors, the brokerage major Lowers the price-target to $42.00 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Jul 28, 2016.

In a different note, On Jul 28, 2016, JP Morgan said it Upgrades its rating on Garmin Ltd.. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Neutral’ by the firm.

Garmin Ltd. (GRMN) shares turned negative on Thursdays trading session with the shares closing down -0.92 points or -1.66% at a volume of 20,00,750. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $55.05. The peak price level was also seen at $55.05 while the days lowest was $53.75. Finally the shares closed at $54.54. The 52-week high of the shares is $56.19 while the 52-week low is $30.93. According to the latest information available, the market cap of the company is $10,301 M.

Garmin Ltd.(GRMN) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $811.61M. Analysts had an estimated revenue of $761.64M. Earnings per share were $0.87. Analysts had estimated an EPS of $0.67.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, Pao-chang Huang (General Manager – Garmin Corp.) sold 7,200 shares at $40.68 per share price.Also, On Dec 16, 2015, Clifton A Pemble (President and CEO) sold 2,026 shares at $34.87 per share price.On Dec 8, 2015, Philip Straub (VP, Man. Director – Aviation) sold 1,914 shares at $37.92 per share price, according to the Form-4 filing with the securities and exchange commission.

Garmin Ltd. (Garmin) is a provider of navigation communications and information devices which are enabled by Global Positioning System (GPS) technology. The Company operates through five business segments: marine outdoor fitness automotive/mobile and aviation markets. It designs develops manufactures markets and distributes a family of hand-held wearable portable and fixed-mount GPS-enabled products and other navigation communications sensor-based and information products. It offers a range of automotive navigation products as well as a range of products and applications designed for the mobile GPS market. It offers a range of products designed for use in outdoor activities. It offers a range of products designed for use in fitness and activity tracking. Garmin offers a range of products designed for use in the recreational marine industry. Garmin’s aviation product line includes GPS-enabled navigation and electronic flight instrumentation systems (EFIS) among others.

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