The shares of
Tractor Supply Company
) reached a new 52-week high of $127.62 on Monday, Sep 9 as the
company is nearing its pre-announced stock split record date of
Sep 18. Tractor Supply is expected to distribute the additional
shares relating to the split on Sep 26 this year to shareholders
of record date. This will bring Tractor Supply's total shares
outstanding to 139.6 million of a par value of 0.4 cents from
69.8 million of a par value of 0.8 cents as of Jul 27, 2013.
This farm and ranch store chain retailer eventually closed at
$126.84 and generated a year-to-date return of nearly 39.0%. The
company currently trades at a forward P/E of 28.3x, a 49.7%
premium to the peer group average of 18.9x. The company's premium
valuation is justified, as its long-term forecasted earnings per
share (EPS) growth rate of 17.4% is much higher than the peer
group average of 14.5%.
Apart from the aforementioned reason, a track record of
posting robust quarterly earnings, solid financial position,
consistent focus on maximizing productivity and initiatives to
expand its brand portfolio were the other factors that led to the
stock's strong price appreciation. The average volume of shares
traded over the last 3 months was approximately 442K.
Tractor Supply's earnings surprise history shows this Zacks
Rank #2 (Buy) stock to have outperformed the Zacks Consensus
Estimate in 20 out of the past 21 quarters, the only exception
being first-quarter 2013 in which the company posted in-line
earnings. The average surprise for the past 21 quarters is
Tractor Supply posted strong second-quarter 2013 results on
the back of robust top-line performance and improved margins. It
declared results on Jul 25, 2013, with earnings of $1.75 per
share, increasing nearly 20.7% year over year and surpassing the
Zacks Consensus Estimate of $1.71.
Tractor Supply's total sales grew 12.7% to $1,455.8 million in
the quarter from $1,291.9 million in the year-ago period, and
beat the Zacks Consensus Estimate of $1,444.0 million.
Additionally, comparable-store sales (comps) for the quarter
Buoyed by better-than-expected quarterly results, management
raised its earnings outlook for 2013. The company now projects
earnings to come in between $4.36 and $4.44 per share, up from
the previously forecasted range of $4.32-$4.40. The Zacks
Consensus Estimate of $4.48 per share remains higher than the
company's guidance range.
Apart from Tractor Supply, companies such as
Vodafone Group Public Limited Company
Citi Trends, Inc.
Digital Ally Inc.
) achieved new 52-week highs of $33.35, $17.72 and $15.23,
respectively, on Sep 9, 2013.
CITI TRENDS INC (CTRN): Free Stock Analysis
DIGITAL ALLY IN (DGLY): Get Free Report
TRACTOR SUPPLY (TSCO): Free Stock Analysis
VODAFONE GP PLC (VOD): Free Stock Analysis
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