Garmin (NYSE:GRMN) Given New $370.00 Price Target at Tigress Financial

Garmin (NYSE:GRMN) had its price target boosted by Tigress Financial from $325.00 to $370.00 in a research report released on Thursday,Benzinga reports. Tigress Financial currently has a strong-buy rating on the scientific and technical instruments company’s stock.

A number of other research firms also recently issued reports on GRMN. UBS Group set a $370.00 target price on shares of Garmin in a research report on Thursday. Barclays raised their price objective on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Morgan Stanley boosted their target price on shares of Garmin from $249.00 to $289.00 and gave the company 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.17.

Garmin Price Performance

Garmin stock opened at $301.91 on Thursday. Garmin has a 1-year low of $186.67 and a 1-year high of $309.92. The stock’s 50 day moving average price is $248.28 and its 200 day moving average price is $239.86. The company has a market cap of $58.22 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 3.37 and a beta of 0.87.

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

Insider Transactions at Garmin

In other Garmin news, VP Joshua H. Maxfield sold 1,152 shares of Garmin stock in a transaction on Friday, July 31st. The stock was sold at an average price of $291.13, for a total transaction of $335,381.76. Following the sale, the vice president owned 15,042 shares of the company’s stock, valued at $4,379,177.46. The trade was a 7.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,810 shares of company stock worth $2,478,157 over the last quarter. Insiders own 14.80% of the company’s stock.

Institutional Trading of Garmin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westmount Partners LLC increased its position in Garmin by 1.9% in the first quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after buying an additional 42 shares in the last quarter. Caldwell Trust Co lifted its holdings in Garmin by 4.4% in the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock worth $237,000 after purchasing an additional 43 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in Garmin by 6.9% in the 1st quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $162,000 after purchasing an additional 45 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of Garmin by 2.9% in the first quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after buying an additional 47 shares in the last quarter. Finally, S.A. Mason LLC boosted its holdings in shares of Garmin by 2.4% during the 4th quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock valued at $436,000 after purchasing an additional 50 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

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.