Garmin Ltd. (GRMN) is Downgraded by Goldman to Sell

Garmin Ltd. (GRMN) was Downgraded by Goldman to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Aug 24, 2016.

Many Wall Street Analysts have commented on Garmin Ltd.. Garmin Ltd. was Downgraded by Raymond James to ” Mkt Perform” on Aug 22, 2016. Garmin Ltd. was Initiated by Longbow to “Neutral” on Aug 17, 2016. Garmin Ltd. was Downgraded by BofA/Merrill to ” Underperform” on Aug 4, 2016.

On the company’s financial health, Garmin Ltd. reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.69. The company had revenue of $811.60 million for the quarter, compared to analysts expectations of $763.93 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Garmin Ltd. opened for trading at $53.23 and hit $54.1 on the upside on Tuesday, eventually ending the session at $53.67, with a gain of 0.96% or 0.51 points. The heightened volatility saw the trading volume jump to 13,17,971 shares. Company has a market cap of $10,137 M.

In a different news, on Aug 23, 2016, Danny J Bartel (VP, Worldwide Sales) sold 786 shares at $54.53 per share price. According to the SEC, on Aug 19, 2016, Sean Biddlecombe (Managing Director, EMEA) sold 425 shares at $54.52 per share price. On Aug 16, 2016, Philip Straub (VP, Man. Director – Aviation) sold 1,084 shares at $55.36 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.

Garmin Ltd.

Leave a Reply

Garmin Ltd. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Garmin Ltd.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.