Garmin (NYSE:GRMN) Given New $285.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Garmin to $285 (from $265) while keeping a "neutral" rating, implying roughly a 7.78% upside.
• Garmin beat quarterly estimates with $2.79 EPS vs. $2.39 expected and $2.12B revenue (up 16.6% YoY), and set FY2026 guidance at 9.35 EPS.
• Insiders have sold about 40,725 shares (~$10.2M) in the last three months even as large institutions (e.g., Norges Bank, AllianceBernstein, UBS AM) added positions, with institutional ownership at 81.6%.

Garmin (NYSE:GRMN - Get Free Report) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $265.00 to $285.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the scientific and technical instruments company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 7.78% from the company's current price.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. Tigress Financial upped their target price on Garmin from $310.00 to $320.00 and gave the company a "strong-buy" rating in a report on Friday, February 20th. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday, February 19th. Finally, Zacks Research upgraded shares of Garmin from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Garmin presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.00.

Garmin Stock Down 0.5%

Shares of NYSE GRMN traded down $1.42 during midday trading on Thursday, hitting $264.42. 511,037 shares of the company's stock were exchanged, compared to its average volume of 940,952. Garmin has a 12 month low of $178.74 and a 12 month high of $267.25. The company's 50 day moving average price is $237.18 and its 200 day moving average price is $222.73. The firm has a market capitalization of $50.90 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 3.17 and a beta of 0.96.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter in the previous year, the business posted $2.41 earnings per share. Garmin's quarterly revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts anticipate that Garmin will post 7.8 EPS for the current year.

Insider Buying and Selling at Garmin

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.65, for a total value of $1,684,545.10. Following the completion of the sale, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Susan Lyman sold 3,805 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the completion of the transaction, the vice president owned 7,471 shares in the company, valued at $1,877,611.72. The trade was a 33.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,725 shares of company stock worth $10,213,222. 15.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in Garmin during the fourth quarter worth about $395,234,000. Alliancebernstein L.P. boosted its position in shares of Garmin by 649.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company's stock valued at $309,417,000 after acquiring an additional 1,088,938 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Garmin during the fourth quarter worth about $214,382,000. Man Group plc increased its position in shares of Garmin by 232.0% in the fourth quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company's stock worth $164,793,000 after purchasing an additional 567,711 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Garmin by 2.5% in the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company's stock worth $4,973,044,000 after purchasing an additional 499,235 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

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.

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