Home / Business and Economy / Tractor Supply Stock Slides Despite Q3 Beat
Tractor Supply Stock Slides Despite Q3 Beat
10 Dec
Summary
- Tractor Supply (TSCO) stock dropped 15.5% from its 52-week high.
- Third-quarter earnings beat expectations, but revenue met forecasts.
- Analysts maintain a 'Moderate Buy' rating with a potential upside.
Tractor Supply Company (TSCO), a prominent rural lifestyle retailer valued at $28.6 billion, is facing market headwinds despite a recent earnings beat. The company, known for its extensive range of farm and home products, has experienced a notable stock decline, slipping 15.5% from its 52-week high. This downturn positions TSCO as a large-cap stock grappling with short-term performance challenges.
Financially, TSCO reported third-quarter earnings per share of $0.49, exceeding Wall Street's expectation of $0.48, while its revenue of $3.7 billion met forecasts. However, the stock's trajectory over the past three months shows a 10.6% decline, underperforming the broader Nasdaq Composite index. Technical indicators further suggest bearish momentum, with TSCO trading below its 50-day and 200-day moving averages.
Despite these recent struggles, Wall Street analysts express a generally positive outlook, with a consensus 'Moderate Buy' rating and a mean price target indicating substantial potential upside. This suggests that the market may be overlooking the company's long-term strengths and strategic positioning within the specialty retail sector.
