Garmin (NYSE:GRMN) Price Target Raised to $305.00

Garmin (NYSE:GRMN) had its price target increased by Tigress Financial from $285.00 to $305.00 in a research report sent to investors on Tuesday, MarketBeat reports. Tigress Financial currently has a strong-buy rating on the scientific and technical instruments company’s stock.

GRMN has been the subject of several other reports. Morgan Stanley lifted their target price on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Barclays restated an “underweight” rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $228.75.

Garmin Stock Up 1.0%

Shares of NYSE:GRMN opened at $257.61 on Tuesday. The firm has a market cap of $49.59 billion, a P/E ratio of 31.76, a P/E/G ratio of 2.80 and a beta of 0.98. Garmin has a 12 month low of $160.94 and a 12 month high of $258.42. The company’s 50-day moving average price is $235.59 and its two-hundred day moving average price is $214.64.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned $1.58 earnings per share. Garmin’s quarterly revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, equities analysts predict that Garmin will post 7.8 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 15.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GRMN. Quaker Wealth Management LLC raised its holdings in Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the period. Groupe la Francaise acquired a new stake in Garmin during the 1st quarter worth $33,000. TFC Financial Management Inc. raised its stake in Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 147 shares during the period. Wayfinding Financial LLC bought a new position in Garmin during the first quarter worth about $34,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Garmin in the first quarter worth about $38,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.