Garmin Ltd. (NYSE:GRMN) Given Average Rating of “Hold” by Analysts

Garmin Ltd. (NYSE:GRMN) has received a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $242.60.

GRMN has been the subject of several research reports. Barclays lifted their price target on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, December 3rd. Morgan Stanley upped their price target on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th.

Garmin Price Performance

GRMN stock opened at $205.64 on Friday. Garmin has a one year low of $169.26 and a one year high of $261.69. The stock has a market cap of $39.55 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 2.32 and a beta of 1.01. The company has a fifty day moving average price of $208.21 and a two-hundred day moving average price of $222.22.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company posted $1.99 EPS. Garmin’s quarterly revenue was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Research analysts anticipate that Garmin will post 7.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 2,485 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the transaction, the chief financial officer owned 28,916 shares of the company’s stock, valued at $5,964,214.16. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 10,431 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the sale, the chief executive officer directly owned 135,180 shares of the company’s stock, valued at $27,878,171.40. This represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. 15.38% of the stock is owned by company insiders.

Institutional Trading of Garmin

Institutional investors and hedge funds have recently made changes to their positions in the company. Andra AP fonden increased its holdings in Garmin by 87.2% during the second quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock worth $13,984,000 after buying an additional 31,200 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Garmin by 4.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock worth $25,370,000 after purchasing an additional 4,943 shares during the last quarter. EFG Asset Management Americas Corp. raised its holdings in shares of Garmin by 34.1% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after purchasing an additional 2,659 shares during the period. Vanguard Group Inc. raised its holdings in shares of Garmin by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after purchasing an additional 1,273,163 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Garmin by 4.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 50,681 shares of the scientific and technical instruments company’s stock valued at $10,578,000 after purchasing an additional 2,375 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

About Garmin

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.