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

Garmin Ltd. (NYSE:GRMN) has received a consensus rating 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 recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $269.40.

Several research firms recently commented on GRMN. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Barclays decreased their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Tigress Financial raised their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th.

Garmin Price Performance

Garmin stock opened at $234.22 on Friday. The firm’s 50 day simple moving average is $244.28 and its 200-day simple moving average is $228.24. The company has a market cap of $45.17 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Garmin has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN) last released its earnings results 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts expect that Garmin will post 9.53 EPS for the current fiscal year.

Insider Activity at Garmin

In related news, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 15.38% of the company’s stock.

Institutional Trading of Garmin

A number of institutional investors have recently added to or reduced their stakes in the business. FAS Wealth Partners Inc. lifted its stake in Garmin by 1.8% in the first quarter. FAS Wealth Partners Inc. now owns 18,692 shares of the scientific and technical instruments company’s stock valued at $4,337,000 after acquiring an additional 326 shares during the last quarter. DV Trading LLC lifted its stake in Garmin by 125.0% in the first quarter. DV Trading LLC now owns 900 shares of the scientific and technical instruments company’s stock valued at $209,000 after acquiring an additional 500 shares during the last quarter. Parallel Advisors LLC lifted its stake in Garmin by 4.9% in the first quarter. Parallel Advisors LLC now owns 4,819 shares of the scientific and technical instruments company’s stock valued at $1,118,000 after acquiring an additional 225 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Garmin by 0.8% in the first quarter. NewEdge Advisors LLC now owns 6,494 shares of the scientific and technical instruments company’s stock valued at $1,507,000 after acquiring an additional 52 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC lifted its stake in Garmin by 21.1% in the first quarter. Alpine Woods Capital Investors LLC now owns 12,362 shares of the scientific and technical instruments company’s stock valued at $2,868,000 after acquiring an additional 2,153 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

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.