Garmin (NASDAQ: GRMN) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research note issued on Monday, StockRatingsNetwork reports.
The analysts wrote, “Garmin (GRMN) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.”
A number of other analysts have also recently weighed in on GRMN. Analysts at Raymond James initiated coverage on shares of Garmin in a research note to investors on Thursday. They set an “outperform” rating and a $42.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Garmin from $47.00 to $39.00 in a research note to investors on Thursday, May 2nd. They now have a “sector perform” rating on the stock. Finally, analysts at DA Davidson reiterated a “neutral” rating on shares of Garmin in a research note to investors on Thursday, May 2nd. They now have a $35.00 price target on the stock, down previously from $40.00.
Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.83.
Garmin (NASDAQ: GRMN) traded up 0.77% on Monday, hitting $35.11. Garmin has a 52-week low of $32.52 and a 52-week high of $50.67. The stock’s 50-day moving average is currently $33.9. The company has a market cap of $6.870 billion and a price-to-earnings ratio of 12.58.
Garmin (NASDAQ: GRMN) last announced its earnings results on Wednesday, May 1st. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.41 by $0.01. The company had revenue of $532.00 million for the quarter, compared to the consensus estimate of $518.64 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. On average, analysts predict that Garmin will post $2.36 earnings per share for the current fiscal year.
Garmin Ltd. (NASDAQ: GRMN) is a provider of navigation, communication and information devices and applications, which are enabled by global positioning system (GPS) technology.