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

Garmin Ltd. (NYSE:GRMN) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $269.40.

Several research firms have recently issued reports on GRMN. JPMorgan Chase & Co. raised their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Barclays reduced their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Tigress Financial upped their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th.

Garmin Trading Up 0.2%

Shares of NYSE GRMN opened at $241.93 on Thursday. Garmin has a 1-year low of $186.67 and a 1-year high of $273.32. The company has a 50-day moving average of $237.81 and a two-hundred day moving average of $233.03. The company has a market cap of $46.66 billion, a PE ratio of 26.97, a P/E/G ratio of 2.85 and a beta of 0.90.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts forecast that Garmin will post 9.53 earnings per share for the current year.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the business’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 value of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 14.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GRMN. Groupe la Francaise grew its position in shares of Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. Reflection Asset Management acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. bought a new position in shares of Garmin during the 4th quarter worth approximately $34,000. Archer Investment Corp bought a new position in shares of Garmin during the 1st quarter worth approximately $37,000. Finally, GraniteShares Advisors LLC bought a new stake in Garmin in the 4th quarter valued at $41,000. 81.60% of the stock is 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.