Garmin Ltd. (NYSE:GRMN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Garmin Ltd. (NYSE:GRMN) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $269.40.

Several research analysts recently commented on GRMN shares. Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Tigress Financial upped their target price on shares of 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. increased their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, Barclays decreased their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th.

Key Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin announced it has acquired TrainingPeaks and TrainHeroic, two major training platforms for endurance and strength athletes, which could deepen its ties to coaches and users and support more software-driven revenue. Garmin acquires TrainingPeaks and TrainHeroic, leading endurance and strength training platforms for athletes and coaches
• Positive Sentiment: Garmin unveiled CIRQA, a screen-free smart band with advanced health and fitness tracking and no subscription fee, which may strengthen its appeal against rivals like Whoop and broaden its wearables lineup. Meet CIRQA Smart Band: The screen-free health and fitness tracker from Garmin
• Positive Sentiment: Garmin also introduced the Approach Z10 laser rangefinder for golfers, adding another premium product to its outdoor and sports portfolio. Take the guesswork out of the game with Approach Z10, a compact laser rangefinder from Garmin
• Neutral Sentiment: Several media pieces highlighted Garmin’s new screenless fitness tracker and described it as a fresh competitor in the wearable market, but these articles mainly repeat the company’s own announcement rather than adding new financial details. Garmin Unveils $200 Screenless Tracker as $10 Billion Whoop Faces New Rival
• Neutral Sentiment: Analyst notes and stock-watch articles cited Garmin’s strong positioning and price-target estimates, but they did not include a material new catalyst. Garmin Ltd. (NYSE:GRMN) Receives $269.40 Average Price Target from Analysts

Insider Transactions at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 14.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Garmin

A number of institutional investors have recently added to or reduced their stakes in the stock. Groupe la Francaise grew its holdings in Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 97 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Garmin in the 4th quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new position in shares of Garmin during the 4th quarter worth $34,000. Archer Investment Corp purchased a new position in shares of Garmin during the 1st quarter worth $37,000. Finally, GraniteShares Advisors LLC acquired a new position in shares of Garmin during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 1.5%

NYSE:GRMN opened at $240.30 on Thursday. The stock has a 50 day moving average of $238.37 and a two-hundred day moving average of $234.44. Garmin has a 12 month low of $186.67 and a 12 month high of $273.32. The firm has a market cap of $46.34 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.80 and a beta of 0.90.

Garmin (NYSE:GRMN) last released its earnings results 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 the consensus estimate 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. On average, research analysts forecast that Garmin will post 9.53 earnings per share for the current year.

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.