Garmin (NYSE:GRMN) Rating Increased to Buy at Wall Street Zen

Garmin (NYSE:GRMN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other analysts have also weighed in on the company. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays cut their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Morgan Stanley set a $249.00 price target on Garmin in a research note on Thursday, April 30th. Tigress Financial lifted their price target on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Down 2.2%

NYSE:GRMN opened at $236.62 on Friday. The stock’s 50-day simple moving average is $244.62 and its 200 day simple moving average is $225.18. The firm has a market capitalization of $45.63 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91. Garmin has a twelve month low of $186.67 and a twelve month 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, beating the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion for 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%.Garmin’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts anticipate that Garmin will post 9.53 EPS for the current fiscal year.

Institutional Trading of Garmin

Hedge funds have recently made changes to their positions in the company. Groupe la Francaise boosted its stake in shares of Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 97 shares in the last quarter. Reflection Asset Management bought a new position in shares of Garmin during the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. bought a new position in shares of Garmin during the fourth quarter worth about $34,000. Archer Investment Corp bought a new position in shares of Garmin during the first quarter worth about $37,000. Finally, GraniteShares Advisors LLC bought a new position in shares of Garmin during the fourth quarter worth about $41,000. 81.60% of the stock is owned by institutional investors and hedge funds.

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.