Morgan Stanley Issues Positive Forecast for Garmin (NYSE:GRMN) Stock Price

Key Points

• Morgan Stanley raised Garmin’s price target from $249 to $289 while maintaining an “equal weight” rating, implying roughly 0.6% downside from the prior close. Analysts overall assign Garmin a “Moderate Buy” rating with an average target of $289.20.
• Garmin reported strong quarterly results, with EPS of $2.81 versus the $2.30 consensus and revenue up 11.4% year over year to $2.02 billion. The company also raised its 2026 outlook to approximately $10 EPS and $8.1 billion in revenue, supported by strong Fitness segment growth.
• Shares recently traded near their 52-week high at $290.87, with a valuation of about 32.5 times earnings. While institutional ownership is high at 81.6%, recent insider sales and concerns that growth may moderate could weigh on investor sentiment.

Garmin (NYSE:GRMN - Get Free Report) had its price target increased by equities researchers at Morgan Stanley from $249.00 to $289.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the scientific and technical instruments company's stock. Morgan Stanley's target price would indicate a potential downside of 0.64% from the company's previous close.

Other analysts also recently issued reports about the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research report on Monday, June 8th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a research report on Wednesday, May 20th. Zacks Research lowered shares of Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Finally, Barclays lifted their price target on shares of Garmin from $238.00 to $297.00 and gave the stock an "equal weight" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $289.20.

Garmin Stock Down 1.3%

NYSE:GRMN traded down $3.96 during trading hours on Thursday, hitting $290.87. 586,935 shares of the company traded hands, compared to its average volume of 911,721. The firm's 50-day simple moving average is $240.78 and its 200-day simple moving average is $236.09. Garmin has a one year low of $186.67 and a one year high of $304.00. The company has a market cap of $56.10 billion, a PE ratio of 32.48, a PEG ratio of 3.00 and a beta of 0.90.

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

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the sale, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On Garmin

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock worth $401,000 after acquiring an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Garmin by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock valued at $1,278,000 after acquiring an additional 345 shares during the last quarter. Woodline Partners LP grew its position in Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company's stock worth $2,826,000 after acquiring an additional 3,757 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock valued at $1,479,000 after purchasing an additional 2,304 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Garmin by 17.0% in the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company's stock worth $347,000 after buying an additional 242 shares during the period. Hedge funds and other 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 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.

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