Garmin Ltd. (NYSE:GRMN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Garmin has an average analyst rating of "Moderate Buy" from seven brokerages, with a consensus 12-month price target of $269.40.
• The company recently reported better-than-expected quarterly results, posting EPS of $2.08 versus estimates of $1.84 and revenue of $1.75 billion versus $1.72 billion expected, with revenue up 14% year over year.
• Insiders have been selling shares, including VP Susan Lyman and CFO Douglas G. Boessen, while institutional investors such as Vanguard and State Street have continued to build positions in the stock.

Shares of Garmin Ltd. (NYSE:GRMN - Get Free Report) have received an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $269.40.

A number of research firms have recently commented on GRMN. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. Barclays cut their price objective on Garmin from $240.00 to $238.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. Tigress Financial raised their price objective on Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. upped their target price on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Finally, Zacks Research downgraded Garmin from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st.

Garmin Trading Down 0.8%

GRMN stock opened at $238.68 on Wednesday. The stock has a 50-day moving average price of $244.41 and a two-hundred day moving average price of $223.18. Garmin has a 12-month low of $186.67 and a 12-month high of $273.32. The company has a market cap of $46.03 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 2.83 and a beta of 0.94.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts forecast that Garmin will post 9.57 EPS for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, VP Susan Lyman sold 3,805 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the sale, the vice president owned 7,471 shares in the company, valued at $1,877,611.72. This represents a 33.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value of $877,538.42. Following the sale, the chief financial officer owned 28,049 shares in the company, valued at $7,058,811.34. The trade was a 11.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,175 shares of company stock valued at $9,852,187 in the last three months. 15.38% of the stock is currently owned by company insiders.

Institutional Trading of Garmin

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Garmin by 2.5% during the 3rd 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 purchasing an additional 499,235 shares during the period. State Street Corp increased its position in Garmin by 1.8% in the 3rd 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 acquiring an additional 126,677 shares during the period. Norges Bank bought a new position in Garmin during the 4th quarter valued at $395,234,000. Northern Trust Corp boosted its stake in Garmin by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company's stock valued at $348,836,000 after purchasing an additional 63,283 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Garmin by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company's stock valued at $378,540,000 after purchasing an additional 40,474 shares in the last quarter. 81.60% of the stock is currently 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.

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