Garmin (NYSE:GRMN) Stock Price Expected to Rise, Tigress Financial Analyst Says

Garmin (NYSE:GRMN) had its target price increased by equities researchers at Tigress Financial from $320.00 to $325.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the scientific and technical instruments company’s stock. Tigress Financial’s price target would suggest a potential upside of 39.06% from the stock’s current price.

A number of other brokerages also recently issued reports on GRMN. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley set a $249.00 price target on Garmin in a report on Thursday, April 30th. Barclays lowered their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Performance

Shares of GRMN traded up $5.03 during trading hours on Wednesday, hitting $233.72. 383,954 shares of the stock were exchanged, compared to its average volume of 902,493. Garmin has a 12-month low of $186.67 and a 12-month high of $273.32. The company has a market cap of $45.07 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 2.67 and a beta of 0.94. The stock’s 50-day moving average price is $244.27 and its two-hundred day moving average price is $222.15.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company earned $1.61 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts expect that Garmin will post 9.57 earnings per share for the current year.

Insider Activity

In related news, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew Munn sold 5,275 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the transaction, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,246 shares of company stock worth $10,110,041 in the last quarter. Insiders own 19.54% of the company’s stock.

Institutional Investors Weigh In On Garmin

Hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC increased its holdings in shares of Garmin by 43.4% in the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock valued at $5,538,000 after acquiring an additional 6,806 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Garmin by 25.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock valued at $5,314,000 after acquiring an additional 4,437 shares during the last quarter. Krilogy Financial LLC purchased a new position in shares of Garmin in the 3rd quarter valued at about $1,519,000. ARK Investment Management LLC grew its stake in Garmin by 10.9% during the 3rd quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company’s stock worth $7,122,000 after buying an additional 2,852 shares during the last quarter. Finally, Diversified Trust Co. grew its stake in Garmin by 123.1% during the 4th quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock worth $1,673,000 after buying an additional 4,551 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

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.