Garmin (NYSE:GRMN) Upgraded by Zacks Research to “Strong-Buy” Rating

Garmin (NYSE:GRMN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Barclays set a $240.00 price objective on Garmin in a report on Thursday, February 19th. Tigress Financial lifted their target price on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.00.

Garmin Stock Up 1.8%

Shares of GRMN opened at $251.56 on Monday. The firm has a market capitalization of $48.42 billion, a PE ratio of 29.25, a P/E/G ratio of 2.44 and a beta of 1.00. The firm has a 50-day moving average price of $210.42 and a 200 day moving average price of $220.76. Garmin has a 52-week low of $169.26 and a 52-week high of $261.69.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts expect that Garmin will post 7.8 EPS for the current year.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,485 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total transaction of $512,556.10. Following the sale, the chief financial officer owned 28,916 shares in the company, valued at approximately $5,964,214.16. The trade was a 7.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 1,071 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $240.76, for a total transaction of $257,853.96. Following the sale, the director directly owned 7,884 shares of the company’s stock, valued at $1,898,151.84. This represents a 11.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 18,144 shares of company stock worth $3,798,628. Company insiders own 19.54% of the company’s stock.

Hedge Funds Weigh In On Garmin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the period. NewEdge Advisors LLC raised its position in Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after buying an additional 345 shares during the period. Woodline Partners LP lifted its stake in Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after acquiring an additional 3,757 shares in the last quarter. Focus Partners Wealth lifted its stake in Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after acquiring an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its position in Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after acquiring an additional 242 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

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.