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

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

Several research firms have recently weighed in on GRMN. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays decreased their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Tigress Financial raised 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. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th.

Garmin Stock Down 0.8%

GRMN opened at $238.68 on Wednesday. The firm has a market cap of $46.03 billion, a PE ratio of 26.61, a P/E/G ratio of 2.83 and a beta of 0.94. The business has a fifty day simple moving average of $244.41 and a 200-day simple moving average of $223.18. Garmin has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts anticipate that Garmin will post 9.57 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In related news, COO Patrick Desbois sold 6,694 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the sale, the chief operating officer directly owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president owned 9,876 shares of the company’s stock, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,175 shares of company stock valued at $9,852,187 in the last quarter. Corporate insiders own 15.38% of the company’s stock.

Institutional Trading of Garmin

Several hedge funds and other institutional investors have recently modified their holdings of GRMN. Westmount Partners LLC increased its holdings in Garmin by 1.9% during the 1st quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after purchasing an additional 42 shares in the last quarter. Caldwell Trust Co increased its holdings in Garmin by 4.4% during the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock worth $237,000 after purchasing an additional 43 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Garmin by 6.9% during the 1st quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $162,000 after purchasing an additional 45 shares in the last quarter. Fulton Bank N.A. increased its holdings in Garmin by 2.9% during the 1st quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 47 shares in the last quarter. Finally, Daymark Wealth Partners LLC increased its holdings in Garmin by 0.7% during the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after purchasing an additional 48 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

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.