Garmin (NYSE:GRMN) Price Target Raised to $285.00
by Renee Jackson · The Cerbat GemGarmin (NYSE:GRMN – Get Free Report) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $265.00 to $285.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 7.78% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Tigress Financial upped their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Finally, Barclays set a $240.00 price objective on Garmin in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.
Read Our Latest Research Report on Garmin
Garmin Stock Down 0.5%
Shares of Garmin stock traded down $1.42 during trading on Thursday, hitting $264.42. 511,037 shares of the stock traded hands, compared to its average volume of 940,952. The stock has a market cap of $50.90 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 3.17 and a beta of 0.96. Garmin has a 52 week low of $178.74 and a 52 week high of $267.25. The firm’s fifty day moving average is $237.18 and its 200-day moving average is $222.73.
Garmin (NYSE:GRMN – Get Free Report) last issued its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm earned $2.41 earnings per share. Garmin’s revenue for the quarter was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts forecast that Garmin will post 7.8 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Garmin news, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president owned 7,471 shares of the company’s stock, valued at $1,877,611.72. This trade represents a 33.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the transaction, the chief operating officer owned 58,540 shares in the company, valued at $14,731,591. The trade was a 10.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 40,725 shares of company stock valued at $10,213,222 over the last quarter. Company insiders own 15.38% of the company’s stock.
Institutional Trading of Garmin
Institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. lifted its stake in shares of Garmin by 62.2% in the 3rd 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 period. Reflection Asset Management purchased a new stake in Garmin in the fourth quarter worth $32,000. 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. Atlas Capital Advisors Inc. purchased a new position in Garmin during the fourth quarter valued at $34,000. Finally, Tradewinds Capital Management LLC purchased a new position in Garmin during the third quarter valued at $44,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
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.