Garmin (NYSE:GRMN) Sets New 52-Week High – Still a Buy?

Garmin Ltd. (NYSE:GRMN)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $305.00 and last traded at $303.9460, with a volume of 905844 shares traded. The stock had previously closed at $293.78.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Tigress Financial lifted their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Barclays upped their price target on shares of Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $289.20.

Garmin Stock Performance

The stock has a market capitalization of $58.62 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 3.28 and a beta of 0.87. The stock has a 50-day moving average price of $244.29 and a two-hundred day moving average price of $237.91.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Equities analysts anticipate that Garmin Ltd. will post 10.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 4,029 shares of Garmin stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the sale, the chief executive officer directly owned 120,127 shares in the company, valued at $36,038,100. The trade was a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 8,810 shares of company stock worth $2,478,157. Company insiders own 14.80% of the company’s stock.

Institutional Trading of Garmin

Several large investors have recently bought and sold shares of GRMN. GSA Capital Partners LLP bought a new stake in shares of Garmin in the fourth quarter worth $979,000. Commerzbank Aktiengesellschaft FI lifted its holdings in Garmin by 282.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after acquiring an additional 4,814 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Garmin by 121.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after purchasing an additional 59,229 shares during the last quarter. Generali Asset Management SPA SGR boosted its position in Garmin by 8,727.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after purchasing an additional 9,251 shares during the last quarter. Finally, Westerkirk Capital Inc. grew its stake in shares of Garmin by 88.2% during the 4th quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock valued at $4,199,000 after purchasing an additional 9,700 shares during the period. 81.60% of the stock is owned by institutional investors.

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.