Garmin (NYSE:GRMN) Sets New 1-Year High – Here’s Why

Shares of Garmin Ltd. (NYSE:GRMN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $305.00 and last traded at $303.9460, with a volume of 905844 shares changing hands. The stock had previously closed at $293.78.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Tigress Financial increased their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays increased their price objective on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a report on Thursday. Morgan Stanley raised their target price on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One research 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, Garmin has an average rating of “Moderate Buy” and a consensus price target of $289.20.

Garmin Stock Performance

The stock has a market capitalization of $58.62 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 3.28 and a beta of 0.87. The business’s 50-day moving average price is $244.29 and its 200 day moving average price is $237.91.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 10.1 earnings per share for the current year.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 4,029 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total value of $1,208,700.00. Following the transaction, the chief executive officer directly owned 120,127 shares in the company, valued at approximately $36,038,100. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer directly owned 26,049 shares in the company, valued at $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. Over the last quarter, insiders have sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Garmin

A number of institutional investors have recently made changes to their positions in the stock. Groupe la Francaise lifted its holdings 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 acquiring an additional 97 shares during the last quarter. Reflection Asset Management bought a new position in Garmin in the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. purchased a new stake in Garmin during the fourth quarter valued at about $34,000. Archer Investment Corp bought a new stake in Garmin during the first quarter worth about $37,000. Finally, GraniteShares Advisors LLC bought a new stake in Garmin during the fourth quarter worth about $41,000. 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.