Garmin Ltd. (NYSE:GRMN) Receives $269.40 Average Price Target from Analysts

Garmin Ltd. (NYSE:GRMN) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $269.40.

Several research analysts recently weighed in on the company. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Morgan Stanley set a $249.00 price objective on Garmin in a research report on Thursday, April 30th. Tigress Financial raised 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. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th.

Garmin Price Performance

NYSE GRMN opened at $245.23 on Thursday. Garmin has a 1 year low of $186.67 and a 1 year high of $273.32. The company has a market capitalization of $47.29 billion, a PE ratio of 27.34, a P/E/G ratio of 2.95 and a beta of 0.90. The company has a fifty day moving average of $238.23 and a 200 day moving average of $233.94.

Garmin (NYSE:GRMN) last announced its quarterly earnings results 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm 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 year.

Insider Transactions at Garmin

In other news, 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 value of $169,475.51. Following the sale, the director directly owned 21,277 shares of the company’s stock, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 14.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Garmin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Groupe la Francaise lifted its stake 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 buying an additional 97 shares in the last quarter. Reflection Asset Management purchased a new stake in Garmin during the 4th quarter valued at about $32,000. Archer Investment Corp acquired a new stake in Garmin in the 1st quarter valued at about $37,000. Atlas Capital Advisors Inc. acquired a new stake in Garmin in the 4th quarter valued at about $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Garmin in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds 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.