Garmin Ltd. (NYSE:GRMN) saw a downside of -0.24% to close Friday at $101.55 after subtracting -$0.24 on the day. The 5-day average trading volume is 512,820 shares of the company’s common stock. It has gained $104.23 in the past week and touched a new high 1 time within the past 5 days. An average of 750,915 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 778,192.
GRMN’s 1-month performance is -4.76% or -$5.90 on its low of $100.71 reached on 08/18/23. The company’s shares have touched a 52-week low of $76.37 and high of $108.56, with the stock’s rally to the 52-week high happening on 08/03/23. YTD, GRMN has achieved 10.03% or $9.26 and has reached a new high 17 times. However, the current price is down -6.46% from the 52-week high price.
Insider Transactions
GRMN stock investors last saw insider trading activity on Aug 04.Biddlecombe Sean (Managing Director, EMEA) most recently sold 857 shares at $106.02 per share on Aug 04. This transaction cost the insider $90,859. CFO and Treasurer, Boessen Douglas G., sold 15,653 shares at a price of $105.47 on Jun 12. Then, on Feb 28, VP, Man. Director – Auto OEM Munn Matthew sold 4,536 shares at a price of $98.36 per share. This transaction amounted to $446,180.
Valuation Metrics
GRMN stock has a beta of 0.93. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.96 while the price-to-book (PB) in the most recent quarter is 3.17, with the price to cash flow ratio at 22.53.
Garmin Ltd.’s quick ratio for the period ended June 29 was 1.90, with the current ratio over the same period at 2.80. In terms of profitability, the gross margin trailing 12 months is 57.50%. The trailing 12-month EBITDA margin is 24.52% while for the period ending June 29, Garmin Ltd.’s operating margin was 20.10%. The firm’s gross profit as reported stood at $2.81 billion against revenue of $4.86 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 10.44% to $287.94 million, while revenue of $202.33 million was 29.73% off the previous quarter. Analysts expected GRMN to announce $1.41 per share in earnings in its latest quarter, but it posted $1.45, representing a 2.80% surprise. EBITDA for the quarter stood at more than $328.54 million. GRMN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.75 billion, with total debt at $142.44 million. Shareholders hold equity totaling $191.45 million.
Let’s look briefly at Garmin Ltd. (GRMN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 25.26% to suggest the stock is trending oversold, with historical volatility in this time period at 5.91%.
The stock’s 5-day moving average is $102.53, reflecting a -1.89% or -$1.96 change from its current price. GRMN is currently trading -4.17% above its 20-day SMA, +5.34% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -4.14% and SMA200 by+15.35%.
Stochastic %K and %D was 5.36% and 6.73% and the average true range (ATR) pointed at 1.56. The RSI (14) points at 33.44%, while the 14-day stochastic is at 10.70% with the period’s ATR at 1.61. The stock’s 9-day MACD Oscillator is pointing at -1.38 and -2.54 on the 14-day charts.
Analyst Ratings
Analysts offering their rating for GRMN stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate GRMN as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 1 have offered a “buy” rating.
What is GRMN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $103.00 and a high of $120.00, with their median price target at $115.50. Looking at these predictions, the average price target given by analysts is for Garmin Ltd. (GRMN) stock is $113.50.
