Garmin Ltd. (GRMN) : Traders are bullish on Garmin Ltd. (GRMN) as it has outperformed the S&P 500 by a wide margin of 23.77% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 18.06%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 17.98% in the last 1 week, and is up 27.93% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 20.27% and the 50-Day Moving Average is 26.43%. Garmin Ltd. is up 29% in the last 3-month period. Year-to-Date the stock performance stands at 49.88%.
Garmin Ltd. (NASDAQ:GRMN): stock turned positive on Friday. Though the stock opened at $53.6, the bulls momentum made the stock top out at $54.86 level for the day. The stock recorded a low of $53.36 and closed the trading day at $54.33, in the green by 1.48%. The total traded volume for the day was 2,219,385. The stock had closed at $53.54 in the previous days trading.
Also, Equity Analysts at the Brokerage Firm, JP Morgan, upgrades their rating on the shares of Garmin Ltd. (NASDAQ:GRMN). JP Morgan has a Neutral rating on the shares. Previously, the analysts had a Underweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $47 per share from a prior target of $38. The rating by the firm was issued on July 28, 2016.
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. Garmins aviation product line includes GPS-enabled navigation, and electronic flight instrumentation systems (EFIS), among others.