Garmin (NYSE:GRMN) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Garmin from buy to hold, adding to a mixed analyst backdrop that still leaves the stock with an overall Moderate Buy consensus and a $269.40 average price target.
• Garmin’s latest quarterly results were strong, with EPS of $2.08 beating estimates and revenue of $1.75 billion topping forecasts. Revenue rose 14% year over year, and the company guided FY 2026 EPS at 9.35.
• Recent insider activity has included sales by CFO Douglas G. Boessen and Director Joseph J. Hartnett, while institutional ownership remains high at 81.60%. The stock was trading at $234.22, below its 50-day average but above its 200-day average.

Garmin (NYSE:GRMN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

GRMN has been the subject of several other research reports. Morgan Stanley set a $249.00 price target on Garmin in a report on Thursday, April 30th. Barclays decreased 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. Zacks Research downgraded Garmin from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Garmin presently has an average rating of "Moderate Buy" and a consensus price target of $269.40.

Garmin Stock Up 0.0%

GRMN opened at $234.22 on Friday. The firm has a 50-day simple moving average of $244.28 and a two-hundred day simple moving average of $228.24. Garmin has a 52 week low of $186.67 and a 52 week high of $273.32. The company has a market capitalization of $45.17 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.24. The firm had revenue of $1.75 billion during 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%.The business's quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts expect that Garmin will post 9.53 earnings per share for the current year.

Insider Buying and Selling at Garmin

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GRMN. Westmount Partners LLC lifted its holdings in Garmin by 1.9% during the 1st quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company's stock valued at $512,000 after buying an additional 42 shares in the last quarter. Caldwell Trust Co grew its stake in Garmin by 4.4% in the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company's stock worth $237,000 after acquiring an additional 43 shares in the last quarter. HHM Wealth Advisors LLC increased its position in shares of Garmin by 6.9% during the first quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company's stock worth $162,000 after acquiring an additional 45 shares during the period. Fulton Bank N.A. increased its position in shares of Garmin by 2.9% during the first quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company's stock worth $388,000 after acquiring an additional 47 shares during the period. Finally, Daymark Wealth Partners LLC raised its stake in shares of Garmin by 0.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company's stock valued at $1,382,000 after acquiring an additional 48 shares in the last quarter. 81.60% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.