Garmin (NYSE:GRMN) Price Target Raised to $370.00 at Tigress Financial

Garmin (NYSE:GRMN) had its target price increased by equities research analysts at Tigress Financial from $325.00 to $370.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the scientific and technical instruments company’s stock. Tigress Financial’s price target points to a potential upside of 22.55% from the company’s current price.

Several other brokerages have also recently issued reports on GRMN. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Barclays increased their target price on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, Morgan Stanley lifted their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.17.

Garmin Price Performance

NYSE:GRMN opened at $301.91 on Thursday. Garmin has a 1-year low of $186.67 and a 1-year high of $309.92. The firm’s 50-day moving average price is $248.28 and its 200-day moving average price is $239.86. The company has a market capitalization of $58.22 billion, a PE ratio of 31.12, a P/E/G ratio of 3.37 and a beta of 0.87.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. Garmin’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Equities analysts anticipate that Garmin will post 10.1 EPS for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 4,029 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the sale, the chief executive officer directly owned 120,127 shares of the company’s stock, valued at $36,038,100. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in shares of Garmin during the 4th quarter worth approximately $979,000. Commerzbank Aktiengesellschaft FI increased its position in shares of Garmin by 282.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after purchasing an additional 4,814 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Garmin by 121.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock valued at $25,041,000 after purchasing an additional 59,229 shares during the last quarter. Generali Asset Management SPA SGR boosted its position in shares of Garmin by 8,727.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after purchasing an additional 9,251 shares in the last quarter. Finally, Westerkirk Capital Inc. grew its stake in Garmin by 88.2% during the 4th quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock worth $4,199,000 after buying an additional 9,700 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

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.