Could Garmin Ltd. Gain Strenght? Option Traders Don’t Think So

 Could Garmin Ltd. Gain Strenght? Option Traders Don't Think So

In today’s session Garmin Ltd. (GRMN) recorded an unusually high (206) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious GRMN decrease. With 206 contracts traded and 11424 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: GRMN170120P00050000 closed last at: $1.03 or 2.8% down. About 187,985 shares traded hands. Garmin Ltd. (NASDAQ:GRMN) has risen 18.48% since April 27, 2016 and is uptrending. It has outperformed by 13.26% the S&P500.

Analysts await Garmin Ltd. (NASDAQ:GRMN) to report earnings on February, 15. They expect $0.59 EPS, down 20.27% or $0.15 from last year’s $0.74 per share. GRMN’s profit will be $109.31 million for 22.21 P/E if the $0.59 EPS becomes a reality. After $0.75 actual EPS reported by Garmin Ltd. for the previous quarter, Wall Street now forecasts -21.33% negative EPS growth.

Garmin Ltd. (NASDAQ:GRMN) Ratings Coverage

Out of 12 analysts covering Garmin Ltd. (NASDAQ:GRMN), 1 rate it a “Buy”, 4 “Sell”, while 7 “Hold”. This means 8% are positive. $50 is the highest target while $12 is the lowest. The $35.75 average target is -31.79% below today’s ($52.41) stock price. Garmin Ltd. has been the topic of 22 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, January 18 by Credit Suisse. The firm earned “Neutral” rating on Thursday, October 29 by Citigroup. Dougherty & Company downgraded the stock to “Neutral” rating in Thursday, October 15 report. JP Morgan downgraded the stock to “Underweight” rating in Thursday, February 18 report. RBC Capital Markets maintained Garmin Ltd. (NASDAQ:GRMN) on Thursday, July 30 with “Outperform” rating. Raymond James downgraded the shares of GRMN in a report on Monday, August 22 to “Mkt Perform” rating. Credit Suisse downgraded the stock to “Underperform” rating in Friday, January 15 report. The firm has “Neutral” rating given on Friday, September 11 by DA Davidson. As per Monday, October 19, the company rating was upgraded by JP Morgan. RBC Capital Markets maintained Garmin Ltd. (NASDAQ:GRMN) rating on Thursday, October 15. RBC Capital Markets has “Outperform” rating and $40 price target.

According to Zacks Investment Research, “Garmin International is designs, manufactures, and markets navigation and communications equipment for a variety of markets, including aviation, marine, automotive, cellular, OEM, and general recreation. Specifically, the company aims to enrich the lives of customers, suppliers, distributors, and employees by providing the very best products that offer superior quality, safety, and operational features at affordable prices.”

Insitutional Activity: The institutional sentiment increased to 1.16 in 2016 Q2. Its up 0.06, from 1.1 in 2016Q1. The ratio improved, as 45 funds sold all Garmin Ltd. shares owned while 85 reduced positions. 40 funds bought stakes while 103 increased positions. They now own 66.55 million shares or 2.98% less from 68.60 million shares in 2016Q1.
Amica Pension Fund Board Of Trustees holds 0.05% of its portfolio in Garmin Ltd. (NASDAQ:GRMN) for 8,195 shares. Alps Advisors, a Colorado-based fund reported 618,547 shares. The Alabama-based Andra Ap has invested 0.06% in Garmin Ltd. (NASDAQ:GRMN). Goldman Sachs Group holds 1.15 million shares or 0.02% of its portfolio. Blackrock Grp has 967,498 shares for 0.02% of their US portfolio. Ls Inv Advsrs Limited owns 8,386 shares or 0.02% of their US portfolio. Bb&T Ltd Liability last reported 0% of its portfolio in the stock. Guggenheim Ltd Liability Corporation last reported 0.08% of its portfolio in the stock. Apg Asset Mngmt Nv owns 150,486 shares or 0.01% of their US portfolio. Geode Mngmt Ltd Limited Liability Company, a Massachusetts-based fund reported 1.03M shares. Victory Cap Mngmt, a Ohio-based fund reported 10,998 shares. The Florida-based Ladenburg Thalmann Fincl Svcs Incorporated has invested 0% in Garmin Ltd. (NASDAQ:GRMN). Moreover, Alliancebernstein Ltd Partnership has 0.01% invested in Garmin Ltd. (NASDAQ:GRMN) for 222,426 shares. Rockland Tru holds 0.26% of its portfolio in Garmin Ltd. (NASDAQ:GRMN) for 36,620 shares. Bluemountain Cap Mngmt Limited Liability Com reported 2,909 shares or 0% of all its holdings.

Insider Transactions: Since August 3, 2016, the stock had 0 insider buys, and 6 selling transactions for $271,250 net activity. The insider ETKIND ANDREW R sold 1,046 shares worth $57,425. $9,188 worth of Garmin Ltd. (NASDAQ:GRMN) was sold by PEMBLE CLIFTON A on Friday, November 25. $60,010 worth of Garmin Ltd. (NASDAQ:GRMN) was sold by Straub Philip. $42,861 worth of Garmin Ltd. (NASDAQ:GRMN) was sold by Bartel Danny J. Biddlecombe Sean sold $23,171 worth of stock or 425 shares.

Garmin Ltd. and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The company has a market cap of $9.71 billion. Garmin designs, develops, makes, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor and information products. It has a 19.61 P/E ratio. It operates through five business divisions: marine, outdoor, fitness, auto and aviation.

GRMN Company Profile

Garmin Ltd. (Garmin), incorporated on February 9, 2010, and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. Garmin designs, develops, makes, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor and information products. The Firm operates through five business divisions: marine, outdoor, fitness, auto and aviation.

More news for Garmin Ltd. (NASDAQ:GRMN) were recently published by: Profitconfidential.com, which released: “GRMN Stock: Garmin Ltd. Is a Rising Threat with Wearables” on November 26, 2016. Fool.com‘s article titled: “A Strong Case for Buying Garmin Ltd. Stock” and published on November 08, 2016 is yet another important article.

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