Garmin (GRMN) Laps the Stock Market: Here's Why

Garmin (GRMN) ended the recent trading session at $207.15, demonstrating a +1.27% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 1.26%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.77%.Prior to today's trading, shares of the maker of personal navigation devices had lost 5.56% over the past month. This has lagged the Computer and Technology sector's gain of 0.84% and the S&P 500's loss of 2.82% in that time.The upcoming earnings release of Garmin will be of great interest to investors. The company's upcoming EPS is projected at $1.89, signifying a 9.88% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.67 billion, up 12.74% from the year-ago period.Any recent changes to analyst estimates for Garmin should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Garmin is currently a Zacks Rank #1 (Strong Buy).In the context of valuation, Garmin is at present trading with a Forward P/E ratio of 26.7. This represents a premium compared to its industry's average Forward P/E of 19.39.Meanwhile, GRMN's PEG ratio is currently 1.24. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. GRMN's industry had an average PEG ratio of 1.57 as of yesterday's close.The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 161, positioning it in the bottom 36% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow GRMN in the coming trading sessions, be sure to utilize Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Garmin Ltd. (GRMN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks