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

Garmin (NYSE:GRMN) had its price objective hoisted by equities research analysts at Tigress Financial from $305.00 to $310.00 in a report released on Friday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Tigress Financial’s price target would suggest a potential upside of 53.91% from the stock’s previous close.

Several other equities analysts also recently commented on GRMN. Morgan Stanley increased their price objective on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday, December 3rd. Barclays increased their price target on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $242.60.

Garmin Stock Down 0.4%

NYSE:GRMN opened at $201.41 on Friday. Garmin has a twelve month low of $169.26 and a twelve month high of $261.69. The stock’s 50-day simple moving average is $212.64 and its 200 day simple moving average is $222.30. The firm has a market capitalization of $38.74 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting analysts’ consensus estimates of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.99 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, analysts anticipate that Garmin will post 7.8 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In other news, CEO Clifton A. Pemble sold 10,431 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total value of $2,151,185.13. Following the completion of the sale, the chief executive officer owned 135,180 shares of the company’s stock, valued at approximately $27,878,171.40. This represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 2,485 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the transaction, the chief financial officer owned 28,916 shares of the company’s stock, valued at $5,964,214.16. This trade represents a 7.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.38% of the stock is owned by company insiders.

Institutional Trading of Garmin

Large investors have recently bought and sold shares of the business. Quaker Wealth Management LLC lifted its stake in shares of Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares during the period. Groupe la Francaise bought a new stake in Garmin in the first quarter worth approximately $33,000. Richardson Financial Services Inc. increased its holdings in Garmin by 62.2% in the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 142 shares during the period. Finally, Tradewinds Capital Management LLC acquired a new position in Garmin in the third quarter valued at approximately $44,000. 81.60% of the stock is currently 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.