Garmin Ltd. (NYSE:GRMN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Garmin Ltd. (NYSE:GRMN) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $268.40.

A number of equities research analysts recently weighed in on GRMN shares. Morgan Stanley set a $249.00 price target on shares of Garmin in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Tigress Financial upped their target price on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Finally, Barclays cut their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th.

Garmin Stock Down 0.7%

Garmin stock opened at $240.11 on Friday. The business’s 50-day simple moving average is $246.88 and its 200 day simple moving average is $222.86. The stock has a market cap of $46.31 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.85 and a beta of 0.94. Garmin has a 12-month low of $186.67 and a 12-month high of $273.32.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts expect that Garmin will post 9.57 EPS for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.7%. Garmin’s dividend payout ratio is presently 40.13%.

Insider Activity

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the transaction, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the transaction, the chief financial officer owned 28,049 shares of the company’s stock, valued at $7,058,811.34. The trade was a 11.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 40,725 shares of company stock valued at $10,213,222. Insiders own 15.38% of the company’s stock.

Institutional Investors Weigh In On Garmin

Several large investors have recently bought and sold shares of GRMN. Reflection Asset Management bought a new position in shares of Garmin during the fourth quarter worth $32,000. Richardson Financial Services Inc. grew its holdings in shares of Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 51 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Garmin in the 4th quarter valued at $34,000. Archer Investment Corp bought a new stake in shares of Garmin in the 1st quarter valued at $37,000. Finally, Cornerstone Planning Group LLC raised its stake in Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after buying an additional 142 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.