Garmin (GRMN) Receives a Rating Update from a Top Analyst

Bank of America Securities analyst Ronald Epstein maintained a Sell rating on Garmin yesterday and set a price target of $185.00. The company’s shares closed yesterday at $247.10.

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According to TipRanks, Epstein is a top 100 analyst with an average return of 21.8% and a 69.17% success rate. Epstein covers the Industrials sector, focusing on stocks such as Boeing, L3Harris Technologies, and Northrop Grumman.

Garmin has an analyst consensus of Hold, with a price target consensus of $252.00.

Based on Garmin’s latest earnings release for the quarter ending December 27, the company reported a quarterly revenue of $2.12 billion and a net profit of $528.68 million. In comparison, last year the company earned a revenue of $1.82 billion and had a net profit of $435.73 million

Based on the recent corporate insider activity of 114 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GRMN in relation to earlier this year. Earlier this month, LAURIE A MINARD, the VP HR of GRMN sold 837.00 shares for a total of $206,973.36.