Garmin Ltd. (NYSE:GRMN) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Garmin Ltd. (NYSE:GRMN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $310.1667.

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Garmin from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. UBS Group set a $370.00 target price on shares of Garmin in a research report on Thursday. Barclays boosted their target price on shares of Garmin from $238.00 to $297.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, April 16th.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 4,029 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the completion of the sale, the chief executive officer owned 120,127 shares of the company's stock, valued at approximately $36,038,100. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 986 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $292.88, for a total value of $288,779.68. Following the sale, the director owned 6,021 shares of the company's stock, valued at $1,763,430.48. This represents a 14.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Garmin

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its holdings in Garmin by 1.8% in the third 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 buying an additional 126,677 shares during the period. Norges Bank acquired a new position in Garmin during the fourth quarter valued at approximately $395,234,000. Northern Trust Corp grew its stake in Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company's stock worth $348,836,000 after buying an additional 63,283 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Garmin by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company's stock worth $378,540,000 after acquiring an additional 40,474 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Garmin by 0.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company's stock worth $296,250,000 after acquiring an additional 5,213 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Up 0.1%

Shares of NYSE:GRMN opened at $311.33 on Monday. The company has a market cap of $60.04 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.47 and a beta of 0.87. Garmin has a 52 week low of $186.67 and a 52 week high of $312.70. The business has a fifty day simple moving average of $249.83 and a 200-day simple moving average of $240.56.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Sell-side analysts expect that Garmin will post 10.1 earnings per share for the current fiscal year.

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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