A year ago shares of electronics company Garmin (GRMN) was rated a “strong sell.” Now that everyone has a smartphone with an accurate GPS, demand for Garmin’s satellite-based navigation systems had pretty much evaporated. But management has turned this company around by developing devices for the sporting markets used by hunters, hikers, cyclists, and golfers. Garmin also started selling things like dog tracking systems and expanded its offerings for the marine and aviation markets.
The plan is working and the fundamentals have improved steadily. Portfolio Grader upgraded the stock to a “hold” in September, and upgraded it all the way to the very best ranking of “A” back in February. The stock is a “strong buy” and is another one I would be buying on a pullback.