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

Garmin Ltd. (NYSE:GRMN) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $244.40.

GRMN has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley increased their price objective on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Barclays upgraded Garmin from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $208.00 to $217.00 in a report on Friday, January 16th. Finally, Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Wednesday, December 3rd.

Insiders Place Their Bets

In other Garmin news, COO Patrick Desbois sold 3,678 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the transaction, the chief operating officer owned 61,798 shares of the company’s stock, valued at approximately $13,002,299.20. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 10,431 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the sale, the chief executive officer owned 135,180 shares of the company’s stock, valued at approximately $27,878,171.40. This represents a 7.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,594 shares of company stock worth $3,437,592 in the last three months. Corporate insiders own 15.38% of the company’s stock.

Institutional Trading of Garmin

Several hedge funds and other institutional investors have recently bought and sold shares of GRMN. Quaker Wealth Management LLC raised its position in shares of Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 264 shares in the last quarter. Richardson Financial Services Inc. grew its stake in Garmin by 62.2% in the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares in the last quarter. Tradewinds Capital Management LLC bought a new position in Garmin in the third quarter worth about $44,000. Finally, GraniteShares Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter valued at about $41,000. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 1.9%

Shares of Garmin stock opened at $204.61 on Thursday. The stock’s fifty day moving average is $202.63 and its two-hundred day moving average is $222.53. Garmin has a 52 week low of $169.26 and a 52 week high of $261.69. The company has a market capitalization of $39.35 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.99. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, research analysts anticipate that Garmin will post 7.8 earnings per share for the current 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.