Analysts Set Garmin Ltd. (NYSE:GRMN) Price Target at $269.40

Garmin Ltd. (NYSE:GRMN) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Four 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 1 year price target among brokers that have updated their coverage on the stock in the last year is $269.40.

GRMN has been the topic of several recent research reports. Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Tigress Financial increased their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. increased their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley set a $249.00 target price on Garmin in a research note on Thursday, April 30th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Garmin

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

Garmin Stock Performance

NYSE GRMN opened at $235.32 on Friday. The company has a market capitalization of $45.38 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.84 and a beta of 0.91. Garmin has a one year low of $186.67 and a one year high of $273.32. The stock has a 50 day moving average price of $242.45 and a 200-day moving average price of $229.49.

Garmin (NYSE:GRMN) last released its quarterly 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. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. Garmin’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts predict that Garmin will post 9.53 EPS 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.