Price of Tractor Supply Stock (TSCO): Up 10% in 2023

Company Overview

Tractor Supply Company (TSCO) is a leading retailer of farm and ranch supplies, including products for lawn and garden maintenance, livestock, pet care, and more. The company operates over 2,000 stores in 49 states and has a significant online presence.

Recent Performance

TSCO's stock price has been on a steady upward trend in recent years. In 2023, the stock has gained over 10%, outperforming the broader market. This growth has been driven by strong sales and earnings growth, as well as positive analyst sentiment.

Financial Results

TSCO's financial results for the first quarter of 2023 were strong. The company reported revenue growth of 6.4% and earnings per share growth of 11.5%. This growth was driven by increased demand for farm and ranch supplies, as well as increased online sales.

Analyst Ratings

Analysts are generally positive on TSCO's stock. The consensus analyst rating is "Buy," with an average price target of $120. This suggests that analysts believe TSCO's stock has further upside potential.

Market Opportunity

TSCO's market opportunity is significant. The global farm and ranch equipment market is expected to grow to $350 billion by 2026. This growth is being driven by increasing demand for food and fiber, as well as the need for farmers and ranchers to upgrade their equipment.

Growth Strategy

TSCO is well-positioned to capitalize on the growth opportunities in the farm and ranch equipment market. The company has a strong brand, loyal customer base, and extensive distribution network. Additionally, TSCO is investing in new products and services, as well as expanding its online presence.

Risks

There are some risks associated with investing in TSCO. These risks include:

• Competition: TSCO faces competition from a number of retailers, including Home Depot, Lowe's, and Amazon.
• Economic conditions: TSCO's business is cyclical, and its sales can be impacted by economic downturns.
• Currency fluctuations: TSCO has a significant amount of exposure to foreign currencies, which can impact its profitability.

Conclusion

TSCO is a well-positioned company in a growing market. The company has a strong brand, loyal customer base, and extensive distribution network. Additionally, TSCO is investing in new products and services, as well as expanding its online presence. These factors suggest that TSCO's stock has further upside potential.

Table of Contents

• Introduction
• Company Overview
• Recent Performance
• Financial Results
• Analyst Ratings
• Market Opportunity
• Growth Strategy
• Risks
• Conclusion
• Table of Contents

Helpful Tables

Table 1: TSCO Financial Results
| Period | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2023 | $3.7 billion | $327 million | $1.15 |
| FY 2022 | $14.2 billion | $1.2 billion | $4.36 |

Table 2: TSCO Sales by Category
| Category | Sales |
|---|---|
| Farm and Ranch | 60% |
| Lawn and Garden | 25% |
| Pet Care | 10% |
| Other | 5% |

Table 3: TSCO Store Count by State
| State | Stores |
|---|---|
| Texas | 300 |
| California | 250 |
| Florida | 200 |
| Other | 1,250 |

Table 4: TSCO Analyst Ratings
| Analyst | Rating | Price Target |
|---|---|---|
| Barclays | Buy | $125 |
| JP Morgan | Buy | $120 |
| Citigroup | Buy | $115 |

Common Mistakes to Avoid

When investing in TSCO, it is important to avoid the following mistakes:

• Investing too much: TSCO is a solid investment, but it is important to not invest more than you can afford to lose.
• Buying at the wrong time: TSCO's stock price is cyclical, and it is important to buy when the stock is undervalued.
• Selling too soon: TSCO has a strong long-term track record, and it is important to be patient when investing in the company.

Pros and Cons of Investing in TSCO

Pros:

• Strong brand
• Loyal customer base
• Extensive distribution network
• Growing market
• Positive analyst sentiment

Cons:

• Competition
• Economic conditions
• Currency fluctuations

Conclusion

TSCO is a well-positioned company in a growing market. The company has a strong brand, loyal customer base, and extensive distribution network. Additionally, TSCO is investing in new products and services, as well as expanding its online presence. These factors suggest that TSCO's stock has further upside potential.