Garmin (NYSE:GRMN – Free Report) had its price target raised by Morgan Stanley from $249.00 to $289.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the scientific and technical instruments company’s stock.
Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. 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 research report on Wednesday, May 20th. Finally, Barclays upped their target price on shares of Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $289.20.
Check Out Our Latest Stock Analysis on GRMN
Garmin Stock Performance
Garmin (NYSE:GRMN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, sell-side analysts predict that Garmin will post 10.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director directly owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,810 shares of company stock valued at $2,478,157 in the last quarter. Corporate insiders own 14.80% of the company’s stock.
Hedge Funds Weigh In On Garmin
Several institutional investors have recently bought and sold shares of GRMN. Norges Bank acquired a new position in Garmin during the fourth quarter worth $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Garmin during the fourth quarter worth about $214,382,000. Man Group plc boosted its holdings in Garmin by 232.0% during 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 buying an additional 567,711 shares in the last quarter. Bank of America Corp DE grew its position in Garmin by 73.8% during 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 buying an additional 549,954 shares during the period. Finally, Amundi grew its position in Garmin by 82.5% during the first quarter. Amundi now owns 1,017,314 shares of the scientific and technical instruments company’s stock worth $236,027,000 after buying an additional 459,980 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.
More Garmin News
Here are the key news stories impacting Garmin this week:
- Positive Sentiment: Q2 beat and higher guidance: Garmin reported adjusted earnings of $2.81 per share, exceeding expectations of $2.30, while revenue increased 11.4% year over year to $2.02 billion. Growth was supported by strong demand for fitness products and advanced wearables. The company also raised its fiscal 2026 outlook, citing stronger margins and demand. Garmin Tops Q2 Earnings Estimates on Fitness Growth, Ups FY26 Guidance
- Positive Sentiment: Momentum and breakout: Coverage highlighted Garmin’s earnings-driven breakout and its ability to deliver growth despite a premium valuation. The stock reached a new 52-week high following the earnings beat, indicating continued investor confidence in its product portfolio and operating performance. Garmin Stock Breaks Out On Second-Quarter Beat, Raised Outlook
- Neutral Sentiment: Valuation debate: Analysts and financial commentary are weighing Garmin’s strong growth against a share price that may already reflect much of the improvement. This could make additional gains more dependent on continued earnings beats and guidance increases. Garmin Beats On Strong Demand, Is The Stock Now 12% Overvalued?
- Negative Sentiment: Insider selling: CEO Clifton Pemble, Vice President Joshua Maxfield and Director Sean Biddlecombe sold Garmin shares worth approximately $1.21 million, $335,000 and $289,000, respectively. Each retained a substantial position, but the cluster of sales can create a modest sentiment headwind.
- Negative Sentiment: Limited analyst upside: Morgan Stanley raised its price target to $289 from $249 but maintained an “equal weight” rating. The new target remains below the recent trading level, signaling that the firm views much of Garmin’s earnings optimism as already reflected in the 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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