Garmin Ltd. (GRMN): A Wearable for Your Portfolio?

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Garmin Ltd. (GRMN): A Wearable for Your Portfolio?

Wearables are the trend, but are you following the crowd?

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Garmin in the News

Garmin Ltd. (NASDAQ:GRMN), the company known for its Global Positioning System (GPS) products in fitness and mapping, has been a major player in the wearable technology space. Whether you are a runner trying to track your average mile time, or a golfer who wants to analyze his or her swing, Garmin has a device to serve your needs.

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But, is the wearables phenomenon something you should be adding to your portfolio?

Financial Expert Perspectives

Analyst Mark Sue of RBC Capital maintained his HOLD rating and increased his price target from $52 to $65. He argued, “Garmin may be seeing incremental strength from its Outdoor/Fitness segment, while the mature PND business further stabilizes.” Sue added, “The market for wearable fitness devices is expanding for Garmin, which may handily exceed our conservative 2.5 million Vivofit units estimate for this year.” Sue has a -22.9% average profit recommending Garmin.

However, analyst James Faucette of Pacific Crest recommended SELL Garmin. Faucette argued, “Continued success is priced into the stock and we see little potential for upside.” He fears that the company will suffer major margin pressure due to competition from Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) as they enter the wearables market. Faucette has a +16.1% average profit recommending Garmin.

Conclusion

?Wearables might be all the rage, but analysts are not ready to BUY into the latest lifestyle trend.

To see more recommendations for Garmin, visit TipRanks today.

?Jordan Faigen covers financial markets and the latest stock market news. She can be reached at Jordan@tipranks.com

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TipRanks was founded in 2012 with the goal of giving power back to the individual investor. Our hope is that by making analyst performance data easily available and highly visible to the investing public, TipRanks will not just help save others from our investing mistakes, but will also bring back accountability, objectivity, and transparency to the business of stock picking and analyst reports. TipRanks is proudly unaffiliated with any investment firm.
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