Garmin Ltd. (NYSE:GRMN) Given Consensus Recommendation of "Hold" by Analysts

Shares of Garmin Ltd. (NYSE:GRMN - Get Free Report) have been assigned an average rating of "Hold" from the six analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $241.60.

• HSAs for Gym Memberships? These 3 Fitness Stocks Could Soar

A number of brokerages have recently weighed in on GRMN. Morgan Stanley boosted their price objective on shares of Garmin from $193.00 to $195.00 and gave the stock an "underweight" rating in a report on Thursday, October 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial boosted their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 30th. Longbow Research raised Garmin from a "neutral" rating to a "buy" rating and set a $250.00 price objective on the stock in a research note on Wednesday. Finally, Barclays lifted their price objective on Garmin from $167.00 to $208.00 and gave the stock an "underweight" rating in a report on Thursday, October 30th.

Check Out Our Latest Report on Garmin

Institutional Trading of Garmin

• Garmin’s Growth Signals Wearables Surge: Stocks to Watch

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in shares of Garmin by 36.3% in the third quarter. Allworth Financial LP now owns 2,293 shares of the scientific and technical instruments company's stock worth $565,000 after purchasing an additional 611 shares during the last quarter. IFP Advisors Inc grew its holdings in Garmin by 93.7% in the 3rd quarter. IFP Advisors Inc now owns 6,382 shares of the scientific and technical instruments company's stock worth $1,572,000 after acquiring an additional 3,087 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in Garmin by 10.1% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 35,320 shares of the scientific and technical instruments company's stock worth $8,696,000 after acquiring an additional 3,230 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in Garmin in the 3rd quarter worth $352,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Garmin by 5.9% in the third quarter. CIBC Private Wealth Group LLC now owns 5,207 shares of the scientific and technical instruments company's stock valued at $1,282,000 after acquiring an additional 291 shares during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.

Garmin Trading Up 0.2%

GRMN opened at $197.32 on Wednesday. The stock has a market capitalization of $37.95 billion, a P/E ratio of 24.30, a PEG ratio of 2.23 and a beta of 1.01. The stock has a 50-day moving average price of $224.55 and a 200-day moving average price of $222.28. Garmin has a 12-month low of $169.26 and a 12-month high of $261.69.

• Garmin Navigates to New Highs Driven By Wearables Trend

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, hitting analysts' consensus estimates of $1.99. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.Garmin's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, equities research analysts predict that Garmin will post 7.8 EPS for the current year.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

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