Garmin (NYSE:GRMN) Price Target Raised to $289.00 at Morgan Stanley

Garmin (NYSE:GRMN) had its price objective raised by investment analysts at Morgan Stanley from $249.00 to $289.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the scientific and technical instruments company’s stock. Morgan Stanley’s price objective points to a potential downside of 0.64% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Tigress Financial boosted their price objective on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Barclays boosted their target price on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Garmin has a consensus rating of “Moderate Buy” and an average target price of $289.20.

Garmin Stock Performance

Shares of GRMN traded down $3.96 on Thursday, reaching $290.87. The stock had a trading volume of 586,935 shares, compared to its average volume of 911,721. The firm has a market capitalization of $56.10 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 3.00 and a beta of 0.90. The company has a 50-day simple moving average of $240.78 and a 200-day simple moving average of $236.09. Garmin has a 12-month low of $186.67 and a 12-month high of $304.00.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, analysts expect that Garmin will post 9.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Garmin in the fourth quarter valued at about $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Garmin in the 4th quarter valued at about $214,382,000. Man Group plc lifted its holdings in shares of Garmin by 232.0% in the 4th quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company’s stock valued at $164,793,000 after acquiring an additional 567,711 shares during the last quarter. Bank of America Corp DE grew its position in Garmin by 73.8% in the first quarter. Bank of America Corp DE now owns 1,295,199 shares of the scientific and technical instruments company’s stock worth $300,499,000 after acquiring an additional 549,954 shares in the last quarter. Finally, Amundi raised its holdings in Garmin by 82.5% during the 1st quarter. Amundi now owns 1,017,314 shares of the scientific and technical instruments company’s stock valued at $236,027,000 after buying an additional 459,980 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Trending Headlines about Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin reported second-quarter 2026 earnings of $2.81 per share, well above the roughly $2.30 analyst consensus, while revenue rose 11.4% year over year to $2.02 billion, exceeding estimates near $1.93 billion. Stronger margins also supported the earnings beat. Garmin announces second quarter 2026 results
• Positive Sentiment: The Fitness segment was the key growth engine, with sales reportedly increasing about 25% as demand for advanced wearables benefited from healthy-living and connected-fitness trends. Management said wearables should remain an important source of growth. Garmin revenue increases 11% in Q2 as Fitness sales soar
• Positive Sentiment: Garmin raised its full-year 2026 outlook to approximately $10.00 EPS and $8.1 billion in revenue, ahead of consensus expectations of about $9.57 EPS and $8.0 billion revenue. Garmin Tops Q2 Earnings Estimates on Fitness Growth, Ups FY26 Guidance
• Positive Sentiment: The recent acquisitions of TrainingPeaks and TrainHeroic expand Garmin’s athlete-training and coaching software ecosystem, potentially adding recurring digital revenue alongside hardware sales.
• Neutral Sentiment: The broader market was under pressure amid an oil-price spike, geopolitical concerns and uncertainty surrounding the Federal Reserve’s interest-rate decision, which may have limited follow-through in Garmin’s shares. Oil Spikes, Nasdaq 100 Sinks Before Fed
• Negative Sentiment: At roughly 32.5 times earnings and near its 52-week high, Garmin’s valuation leaves less room for disappointment. Analysts have also cautioned that the recent pace of growth may be difficult to sustain indefinitely. Recent insider activity showing sales without reported purchases could add to investor caution.

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.