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

Garmin Ltd. (NYSE:GRMN) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $244.40.

Several equities research analysts have weighed in on GRMN shares. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday, December 3rd. Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $208.00 to $217.00 in a research report on Friday, January 16th. Morgan Stanley boosted their target price on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th.

Insiders Place Their Bets

In related news, COO Patrick Desbois sold 3,678 shares of Garmin stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.40, for a total transaction of $773,851.20. Following the completion of the sale, the chief operating officer owned 61,798 shares of the company’s stock, valued at $13,002,299.20. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 10,431 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total value of $2,151,185.13. Following the completion of the sale, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. This represents a 7.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,594 shares of company stock valued at $3,437,592. 15.38% of the stock is owned by company insiders.

Institutional Trading of Garmin

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Garmin by 2.5% in the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after acquiring an additional 499,235 shares during the period. State Street Corp boosted its holdings in Garmin by 1.8% in the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after purchasing an additional 126,677 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Garmin by 6.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after purchasing an additional 356,161 shares during the period. Geode Capital Management LLC raised its stake in shares of Garmin by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock valued at $958,405,000 after buying an additional 59,321 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Garmin during the 2nd quarter valued at about $410,304,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Up 1.9%

Shares of GRMN opened at $204.61 on Thursday. The company has a 50 day moving average of $202.63 and a two-hundred day moving average of $222.53. Garmin has a twelve month low of $169.26 and a twelve month high of $261.69. The company has a market cap of $39.35 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, meeting the consensus estimate of $1.99. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, sell-side analysts expect that Garmin will post 7.8 EPS for the current year.

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.