Garmin (NYSE:GRMN) Price Target Raised to $310.00

Garmin (NYSE:GRMN) had its price target lifted by JPMorgan Chase & Co. from $295.00 to $310.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other research firms have also weighed in on GRMN. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a report on Thursday, August 6th. KeyCorp reiterated a “sector weight” rating on shares of Garmin in a research report on Thursday. Morgan Stanley increased their price objective on shares of Garmin from $289.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays lowered their price target on shares of Garmin from $297.00 to $277.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, UBS Group set a $370.00 price objective on Garmin in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and an average target price of $315.29.

Garmin Trading Down 2.4%

NYSE:GRMN opened at $273.36 on Thursday. Garmin has a twelve month low of $186.67 and a twelve month high of $314.28. The company has a market cap of $52.68 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 2.84 and a beta of 0.82. The stock has a fifty day simple moving average of $282.60 and a 200-day simple moving average of $253.62.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.38. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Garmin had a net margin of 25.58% and a return on equity of 21.94%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.99 earnings per share. As a group, equities research analysts predict that Garmin will post 10.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 9,941 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the completion of the sale, the insider owned 29,506 shares of the company’s stock, valued at $8,832,916.16. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Garmin

Hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC increased its holdings in shares of Garmin by 336.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 96 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 74 shares during the period. Latitude Advisors LLC acquired a new stake in Garmin during the 3rd quarter worth $32,000. CoreCap Advisors LLC boosted its stake in Garmin by 216.2% during the 3rd quarter. CoreCap Advisors LLC now owns 117 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 80 shares during the period. Groupe la Francaise grew its holdings in shares of Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 97 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in Garmin during the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin News Roundup

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin reported record third-quarter results, with revenue rising 12% year over year to approximately $1.99 billion and earnings per share of $2.76, exceeding the consensus estimate of $2.38. Strong demand for wearables and fitness products helped drive the performance. Garmin’s record revenue in Q3 helped by rise in fitness products
• Positive Sentiment: Management raised its 2026 profit outlook following the strong quarter, supporting the view that Garmin’s product portfolio and wearables momentum remain healthy. Analysts cited margin gains and maintained generally favorable views of the stock. Garmin Raises Its Profit Outlook—Can the Stock Reach New Highs?
• Positive Sentiment: JPMorgan increased its Garmin price target from $295 to $310, implying potential upside from recent trading levels, although it retained a neutral rating. JPMorgan Adjusts Price Target on Garmin to $310 From $295

Garmin Company Profile

Garmin Ltd. (NYSE: GRMN) designs and manufactures GPS-enabled technology and smart devices for fitness, outdoor recreation, aviation, marine, and automotive markets. Its product portfolio includes smartwatches, cycling computers, sports and activity trackers, satellite communication devices, navigation systems, and related sensors and accessories.

The company also develops aviation systems and avionics, marine chartplotters and sonar equipment, and navigation and infotainment solutions for vehicle manufacturers.