is "the most fabulous company I have ever followed," Jim Cramer said on his
"RealMoney" radio show Thursday.
Headquartered in the Cayman Islands, Garmin makes navigation, communications and information products for the consumer and aviation industries.
Cramer called the company consumer-friendly and said that it's a company that people become impressed with after using its products.
Garmin has a 14% growth rate, sells at 27 times earnings and has been up more than 128% year over year, he said. Even though, the company is currently three points from its high, Cramer said.
It is a good trade until the last day of June, he said.
Cramer also recommended
, which he said has been up dramatically, although it was down badly on Thursday..
Rite Aid might be down today because it reported a light quarter and didn't deliver, he said. Although Rite Aid's expense structure seems to be a little out of line, the company has raised their sales guidance and Cramer believes the company will turn around, he said.
In the end, a $4 stock often says it's going bankrupt, but Cramer does not believe that will happen to this company, he said. With $17 billion in sales, there is a chance that it might be a takeover target. But even if it's not taken over, it will rebound on its own with a better quarter, Cramer said.
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