Garmin Ltd. (NYSE:GRMN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Garmin Ltd. (NYSE:GRMN) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Four investment 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 brokers that have updated their coverage on the stock in the last year is $269.40.

A number of brokerages have recently issued reports on GRMN. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. 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 lowered shares of Garmin from a “buy” rating to a “hold” rating in a report 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 for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th.

Garmin Trading Up 0.2%

Shares of NYSE GRMN opened at $241.93 on Thursday. Garmin has a twelve month low of $186.67 and a twelve month high of $273.32. The firm has a 50-day moving average of $237.81 and a two-hundred day moving average of $233.03. The company has a market capitalization of $46.66 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 2.85 and a beta of 0.90.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.24. The company had revenue of $1.75 billion for 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 firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts predict that Garmin will post 9.53 earnings per share for the current year.

Insider Buying and Selling at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the transaction, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 14.80% of the company’s stock.

Institutional Trading of Garmin

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