Garmin (NYSE:GRMN) Stock Price Target Raised at JPMorgan Chase & Co.

Garmin (NYSE:GRMN) had its price target boosted by analysts at JPMorgan Chase & Co. from $295.00 to $310.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently 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 10.62% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Garmin from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. UBS Group set a $370.00 price objective on Garmin in a report on Thursday, August 6th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Arete Research began coverage on Garmin in a research note on Wednesday, October 14th. They set a “buy” rating and a $335.00 target price on the stock. Finally, Barclays cut 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Garmin has a consensus rating of “Moderate Buy” and an average target price of $315.29.

Garmin Stock Up 2.8%

Shares of NYSE GRMN traded up $7.73 during midday trading on Thursday, reaching $280.24. The company had a trading volume of 1,046,364 shares, compared to its average volume of 899,910. Garmin has a one year low of $186.67 and a one year high of $314.28. The firm’s fifty day moving average price is $283.31 and its 200-day moving average price is $252.97. The stock has a market cap of $54.04 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.38. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%. Garmin’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $1.99 EPS. As a group, equities research analysts expect that Garmin will post 10.08 EPS for the current year.

Insiders Place Their Bets

In other Garmin news, VP Joshua Maxfield sold 1,152 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $291.13, for a total transaction of $335,381.76. Following the completion of the sale, the vice president directly owned 15,042 shares in the company, valued at $4,379,177.46. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sean Biddlecombe sold 986 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $292.88, for a total transaction of $288,779.68. Following the sale, the director directly owned 6,021 shares of the company’s stock, valued at $1,763,430.48. The trade was a 14.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,079 shares of company stock valued at $3,600,099. Insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Garmin

A number of hedge funds have recently modified their holdings of the business. Trek Financial LLC bought a new stake in shares of Garmin in the 3rd quarter valued at approximately $3,034,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Garmin by 7.1% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,387 shares of the scientific and technical instruments company’s stock valued at $5,863,000 after purchasing an additional 1,344 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Garmin during the 3rd quarter valued at approximately $11,971,000. Profund Advisors LLC increased its position in shares of Garmin by 2.7% during the 3rd quarter. Profund Advisors LLC now owns 2,128 shares of the scientific and technical instruments company’s stock valued at $610,000 after purchasing an additional 56 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Garmin by 2.2% during the 3rd quarter. ProShare Advisors LLC now owns 25,439 shares of the scientific and technical instruments company’s stock valued at $7,297,000 after buying an additional 536 shares during the period. Institutional investors 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: revenue rose 12% year over year to $1.99 billion, while adjusted EPS of $2.76 exceeded the $2.38 analyst consensus. Operating income increased 34% to $611.6 million, and operating margin expanded to 30.8%. Garmin announces third quarter 2026 results
• Positive Sentiment: Management raised its full-year 2026 outlook to approximately $8.15 billion in revenue and $10.80 in pro forma EPS, up from prior EPS guidance of $10.00. Fitness revenue grew 16% and outdoor revenue increased 20%, supported by strong demand for wearables and adventure watches. Garmin Q3 Earnings: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: JPMorgan raised its price target on GRMN to $310 from $295, adding support to the bullish reaction following the earnings report. JPMorgan Adjusts Price Target on Garmin
• Neutral Sentiment: Garmin’s 2026 Health Awards and Asia health summit highlight its digital-health ecosystem and partnerships, but the event is unlikely to materially affect near-term earnings expectations. Garmin celebrates global digital health innovation
• Neutral Sentiment: KeyBanc reiterated a Sector Weight rating, indicating that the strong results are balanced by valuation and forward cost concerns. KeyBanc Reiterates Sector Weight Rating
• Negative Sentiment: Investors remain concerned that soaring memory-component prices will begin reducing gross and operating margins in 2027, despite the upgraded 2026 outlook. Garmin also reported a 20% decline in auto OEM revenue. Why Garmin Stock Dropped After Record Results

About Garmin

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.