Garmin Ltd (NYSE: GRMN) has a price-to-earnings ratio of 20.96x that is above its average ratio. Additionally, the 36-month beta value for GRMN is 1.00. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 10 rating it as “hold,” and 3 rating it as “sell.”
The public float for GRMN is 154.14M and currently, short sellers hold a 1.87% ratio of that float. The average trading volume of GRMN on April 19, 2024 was 958.49K shares.
GRMN) stock’s latest price update
Garmin Ltd (NYSE: GRMN)’s stock price has gone decline by -0.25 in comparison to its previous close of 141.07, however, the company has experienced a -3.67% decrease in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-17 that Garmin (GRMN) expands its Garmin Navigation Database coverage to Europe, bolstering its Aviation business.
GRMN’s Market Performance
Garmin Ltd (GRMN) has seen a -3.67% fall in stock performance for the week, with a -3.93% decline in the past month and a 13.23% surge in the past quarter. The volatility ratio for the week is 1.93%, and the volatility levels for the past 30 days are at 1.31% for GRMN. The simple moving average for the last 20 days is -3.68% for GRMN’s stock, with a simple moving average of 17.96% for the last 200 days.
Analysts’ Opinion of GRMN
Many brokerage firms have already submitted their reports for GRMN stocks, with JP Morgan repeating the rating for GRMN by listing it as a “Neutral.” The predicted price for GRMN in the upcoming period, according to JP Morgan is $135 based on the research report published on January 08, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see GRMN reach a price target of $115. The rating they have provided for GRMN stocks is “Overweight” according to the report published on July 05th, 2023.
GRMN Trading at 1.04% from the 50-Day Moving Average
After a stumble in the market that brought GRMN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.90% of loss for the given period.
Volatility was left at 1.31%, however, over the last 30 days, the volatility rate increased by 1.93%, as shares sank -4.06% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.52% upper at present.
During the last 5 trading sessions, GRMN fell by -3.67%, which changed the moving average for the period of 200-days by +35.63% in comparison to the 20-day moving average, which settled at $145.80. In addition, Garmin Ltd saw 9.48% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GRMN starting from BURRELL JONATHAN, who sale 15,000 shares at the price of $146.15 back on Mar 15 ’24. After this action, BURRELL JONATHAN now owns 623,834 shares of Garmin Ltd, valued at $2,192,282 using the latest closing price.
BURRELL JONATHAN, the Director of Garmin Ltd, sale 15,000 shares at $147.49 during a trade that took place back on Mar 14 ’24, which means that BURRELL JONATHAN is holding 638,834 shares at $2,212,284 based on the most recent closing price.
Stock Fundamentals for GRMN
Current profitability levels for the company are sitting at:
- 0.21 for the present operating margin
- 0.57 for the gross margin
The net margin for Garmin Ltd stands at 0.25. The total capital return value is set at 0.15. Equity return is now at value 19.52, with 15.79 for asset returns.
Based on Garmin Ltd (GRMN), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at 4.07. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is -33.63.
Currently, EBITDA for the company is 1.24 billion with net debt to EBITDA at -1.27. When we switch over and look at the enterprise to sales, we see a ratio of 4.86. The receivables turnover for the company is 6.41for trailing twelve months and the total asset turnover is 0.61. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.39.
Conclusion
In conclusion, Garmin Ltd (GRMN) has seen mixed performance in recent times. Analysts have a bearish opinion on the stock, with some rating it as a “sell” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
