Garmin Ltd. (NYSE:GRMN) Receives Average Rating of “Hold” from Analysts

by · The Cerbat Gem

Shares of Garmin Ltd. (NYSE:GRMN – Get Free Report) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $242.60.

Several brokerages recently weighed in on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report 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 report on Thursday, October 30th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, December 3rd. Barclays boosted their price objective on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Finally, Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th.

View Our Latest Research Report on GRMN

Garmin Stock Down 1.2%

NYSE GRMN opened at $202.69 on Friday. The firm has a market cap of $38.99 billion, a P/E ratio of 24.96, a P/E/G ratio of 2.29 and a beta of 1.00. Garmin has a 52-week low of $169.26 and a 52-week high of $261.69. The business’s 50-day moving average price is $204.56 and its 200 day moving average price is $222.05.

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

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total transaction of $512,556.10. Following the transaction, the chief financial officer owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the sale, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.38% of the company’s stock.

Institutional Investors Weigh In On Garmin

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Garmin by 2.5% during the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after buying an additional 499,235 shares during the period. State Street Corp lifted its holdings in shares of Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after acquiring an additional 126,677 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Garmin by 6.4% in the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after acquiring an additional 356,161 shares during the last quarter. Geode Capital Management LLC grew its holdings in Garmin by 1.3% in the second quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock valued at $958,405,000 after purchasing an additional 59,321 shares during the period. Finally, Norges Bank acquired a new position in Garmin during the second quarter worth approximately $410,304,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

About Garmin

(Get Free Report)

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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