Garmin Ltd. (NYSE:GRMN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Garmin Ltd. (NYSE:GRMN) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $269.40.

Several brokerages have recently issued reports on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays lowered their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Tigress Financial lifted their price objective on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th.

Garmin Trading Up 0.0%

Garmin stock opened at $234.22 on Friday. The stock has a market cap of $45.17 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.77 and a beta of 0.91. The company’s 50-day moving average price is $244.28 and its two-hundred day moving average price is $228.24. Garmin has a 52 week low of $186.67 and a 52 week high of $273.32.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. Garmin’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts expect that Garmin will post 9.53 earnings per share for the current fiscal year.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 15.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Groupe la Francaise increased its position in shares of Garmin by 346.4% in the first 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 in the last quarter. Reflection Asset Management purchased a new position in shares of Garmin in the fourth quarter worth approximately $32,000. Atlas Capital Advisors Inc. purchased a new position in shares of Garmin in the fourth quarter worth approximately $34,000. Archer Investment Corp purchased a new position in shares of Garmin in the first quarter worth approximately $37,000. Finally, GraniteShares Advisors LLC purchased a new position in shares of Garmin in the fourth quarter worth approximately $41,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

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.