Intrinsic value of Tractor Supply - TSCO

Previous Close

$79.87

  Intrinsic Value

$60.81

stock screener

  Rating & Target

sell

-24%

Previous close

$79.87

 
Intrinsic value

$60.81

 
Up/down potential

-24%

 
Rating

sell

We calculate the intrinsic value of TSCO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.00
  6.80
  6.62
  6.46
  6.31
  6.18
  6.06
  5.96
  5.86
  5.77
  5.70
  5.63
  5.56
  5.51
  5.46
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.10
  5.09
Revenue, $m
  7,764
  8,292
  8,841
  9,412
  10,006
  10,624
  11,268
  11,940
  12,639
  13,369
  14,131
  14,926
  15,757
  16,625
  17,532
  18,481
  19,473
  20,512
  21,599
  22,738
  23,930
  25,179
  26,487
  27,858
  29,296
  30,803
  32,383
  34,039
  35,777
  37,599
Variable operating expenses, $m
  6,971
  7,444
  7,936
  8,448
  8,981
  9,535
  10,112
  10,714
  11,341
  11,995
  12,665
  13,378
  14,123
  14,901
  15,714
  16,564
  17,454
  18,385
  19,359
  20,379
  21,448
  22,567
  23,740
  24,969
  26,258
  27,608
  29,024
  30,509
  32,067
  33,700
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  6,971
  7,444
  7,936
  8,448
  8,981
  9,535
  10,112
  10,714
  11,341
  11,995
  12,665
  13,378
  14,123
  14,901
  15,714
  16,564
  17,454
  18,385
  19,359
  20,379
  21,448
  22,567
  23,740
  24,969
  26,258
  27,608
  29,024
  30,509
  32,067
  33,700
Operating income, $m
  793
  848
  904
  964
  1,025
  1,089
  1,156
  1,226
  1,298
  1,374
  1,466
  1,548
  1,634
  1,724
  1,818
  1,917
  2,020
  2,127
  2,240
  2,358
  2,482
  2,611
  2,747
  2,889
  3,038
  3,195
  3,358
  3,530
  3,710
  3,899
EBITDA, $m
  926
  989
  1,055
  1,123
  1,194
  1,268
  1,344
  1,425
  1,508
  1,595
  1,686
  1,781
  1,880
  1,983
  2,092
  2,205
  2,323
  2,447
  2,577
  2,713
  2,855
  3,004
  3,160
  3,324
  3,495
  3,675
  3,864
  4,061
  4,269
  4,486
Interest expense (income), $m
  6
  25
  30
  36
  42
  48
  55
  61
  68
  75
  83
  91
  99
  108
  117
  126
  136
  146
  157
  168
  180
  192
  205
  218
  232
  247
  263
  279
  296
  314
  332
Earnings before tax, $m
  768
  817
  868
  922
  977
  1,035
  1,095
  1,158
  1,223
  1,291
  1,375
  1,449
  1,527
  1,608
  1,692
  1,781
  1,874
  1,971
  2,072
  2,179
  2,290
  2,407
  2,529
  2,657
  2,791
  2,932
  3,080
  3,234
  3,397
  3,567
Tax expense, $m
  207
  221
  234
  249
  264
  279
  296
  313
  330
  349
  371
  391
  412
  434
  457
  481
  506
  532
  559
  588
  618
  650
  683
  717
  754
  792
  831
  873
  917
  963
Net income, $m
  561
  597
  634
  673
  713
  755
  799
  845
  893
  943
  1,004
  1,058
  1,114
  1,174
  1,235
  1,300
  1,368
  1,439
  1,513
  1,590
  1,672
  1,757
  1,846
  1,940
  2,038
  2,140
  2,248
  2,361
  2,480
  2,604

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,070
  3,279
  3,496
  3,722
  3,956
  4,201
  4,456
  4,721
  4,998
  5,286
  5,588
  5,902
  6,230
  6,574
  6,932
  7,308
  7,700
  8,111
  8,541
  8,991
  9,462
  9,956
  10,473
  11,016
  11,584
  12,180
  12,804
  13,460
  14,147
  14,867
Adjusted assets (=assets-cash), $m
  3,070
  3,279
  3,496
  3,722
  3,956
  4,201
  4,456
  4,721
  4,998
  5,286
  5,588
  5,902
  6,230
  6,574
  6,932
  7,308
  7,700
  8,111
  8,541
  8,991
  9,462
  9,956
  10,473
  11,016
  11,584
  12,180
  12,804
  13,460
  14,147
  14,867
Revenue / Adjusted assets
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
  2.529
Average production assets, $m
  1,211
  1,294
  1,379
  1,468
  1,561
  1,657
  1,758
  1,863
  1,972
  2,086
  2,204
  2,328
  2,458
  2,593
  2,735
  2,883
  3,038
  3,200
  3,369
  3,547
  3,733
  3,928
  4,132
  4,346
  4,570
  4,805
  5,052
  5,310
  5,581
  5,866
Working capital, $m
  939
  1,003
  1,070
  1,139
  1,211
  1,286
  1,363
  1,445
  1,529
  1,618
  1,710
  1,806
  1,907
  2,012
  2,121
  2,236
  2,356
  2,482
  2,614
  2,751
  2,895
  3,047
  3,205
  3,371
  3,545
  3,727
  3,918
  4,119
  4,329
  4,550
Total debt, $m
  563
  668
  778
  892
  1,010
  1,134
  1,263
  1,397
  1,536
  1,682
  1,834
  1,993
  2,159
  2,332
  2,513
  2,703
  2,901
  3,108
  3,325
  3,553
  3,791
  4,040
  4,302
  4,575
  4,862
  5,163
  5,479
  5,810
  6,157
  6,520
Total liabilities, $m
  1,550
  1,656
  1,765
  1,879
  1,998
  2,121
  2,250
  2,384
  2,524
  2,670
  2,822
  2,981
  3,146
  3,320
  3,501
  3,690
  3,889
  4,096
  4,313
  4,540
  4,778
  5,028
  5,289
  5,563
  5,850
  6,151
  6,466
  6,797
  7,144
  7,508
Total equity, $m
  1,520
  1,623
  1,730
  1,842
  1,958
  2,079
  2,206
  2,337
  2,474
  2,617
  2,766
  2,922
  3,084
  3,254
  3,432
  3,617
  3,812
  4,015
  4,228
  4,450
  4,684
  4,928
  5,184
  5,453
  5,734
  6,029
  6,338
  6,663
  7,003
  7,359
Total liabilities and equity, $m
  3,070
  3,279
  3,495
  3,721
  3,956
  4,200
  4,456
  4,721
  4,998
  5,287
  5,588
  5,903
  6,230
  6,574
  6,933
  7,307
  7,701
  8,111
  8,541
  8,990
  9,462
  9,956
  10,473
  11,016
  11,584
  12,180
  12,804
  13,460
  14,147
  14,867
Debt-to-equity ratio
  0.370
  0.410
  0.450
  0.480
  0.520
  0.550
  0.570
  0.600
  0.620
  0.640
  0.660
  0.680
  0.700
  0.720
  0.730
  0.750
  0.760
  0.770
  0.790
  0.800
  0.810
  0.820
  0.830
  0.840
  0.850
  0.860
  0.860
  0.870
  0.880
  0.890
Adjusted equity ratio
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  561
  597
  634
  673
  713
  755
  799
  845
  893
  943
  1,004
  1,058
  1,114
  1,174
  1,235
  1,300
  1,368
  1,439
  1,513
  1,590
  1,672
  1,757
  1,846
  1,940
  2,038
  2,140
  2,248
  2,361
  2,480
  2,604
Depreciation, amort., depletion, $m
  134
  142
  150
  159
  168
  178
  188
  199
  210
  221
  220
  233
  246
  259
  274
  288
  304
  320
  337
  355
  373
  393
  413
  435
  457
  481
  505
  531
  558
  587
Funds from operations, $m
  694
  738
  784
  832
  882
  934
  988
  1,044
  1,102
  1,164
  1,224
  1,291
  1,360
  1,433
  1,509
  1,588
  1,672
  1,759
  1,850
  1,945
  2,045
  2,150
  2,259
  2,374
  2,495
  2,621
  2,753
  2,892
  3,038
  3,190
Change in working capital, $m
  61
  64
  66
  69
  72
  75
  78
  81
  85
  88
  92
  96
  101
  105
  110
  115
  120
  126
  132
  138
  144
  151
  158
  166
  174
  182
  191
  200
  210
  221
Cash from operations, $m
  633
  674
  718
  763
  810
  859
  910
  963
  1,018
  1,075
  1,132
  1,194
  1,260
  1,328
  1,399
  1,474
  1,551
  1,633
  1,718
  1,807
  1,901
  1,998
  2,101
  2,208
  2,321
  2,439
  2,562
  2,692
  2,827
  2,970
Maintenance CAPEX, $m
  -113
  -121
  -129
  -138
  -147
  -156
  -166
  -176
  -186
  -197
  -209
  -220
  -233
  -246
  -259
  -274
  -288
  -304
  -320
  -337
  -355
  -373
  -393
  -413
  -435
  -457
  -481
  -505
  -531
  -558
New CAPEX, $m
  -83
  -82
  -86
  -89
  -93
  -96
  -100
  -105
  -109
  -114
  -119
  -124
  -130
  -135
  -142
  -148
  -155
  -162
  -170
  -178
  -186
  -195
  -204
  -214
  -224
  -235
  -246
  -258
  -271
  -284
Cash from investing activities, $m
  -196
  -203
  -215
  -227
  -240
  -252
  -266
  -281
  -295
  -311
  -328
  -344
  -363
  -381
  -401
  -422
  -443
  -466
  -490
  -515
  -541
  -568
  -597
  -627
  -659
  -692
  -727
  -763
  -802
  -842
Free cash flow, $m
  437
  471
  503
  536
  570
  606
  643
  682
  722
  764
  804
  850
  897
  947
  998
  1,052
  1,108
  1,167
  1,229
  1,293
  1,360
  1,430
  1,504
  1,581
  1,662
  1,746
  1,835
  1,928
  2,025
  2,127
Issuance/(repayment) of debt, $m
  101
  105
  110
  114
  119
  123
  129
  134
  140
  146
  152
  159
  166
  173
  181
  189
  198
  207
  217
  227
  238
  249
  261
  274
  287
  301
  315
  331
  347
  364
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  101
  105
  110
  114
  119
  123
  129
  134
  140
  146
  152
  159
  166
  173
  181
  189
  198
  207
  217
  227
  238
  249
  261
  274
  287
  301
  315
  331
  347
  364
Total cash flow (excl. dividends), $m
  538
  576
  612
  650
  689
  730
  772
  816
  862
  910
  957
  1,009
  1,063
  1,120
  1,179
  1,242
  1,306
  1,374
  1,446
  1,520
  1,598
  1,680
  1,765
  1,855
  1,949
  2,047
  2,151
  2,259
  2,372
  2,491
Retained Cash Flow (-), $m
  -101
  -103
  -107
  -112
  -116
  -121
  -126
  -131
  -137
  -143
  -149
  -156
  -163
  -170
  -178
  -186
  -194
  -203
  -213
  -223
  -233
  -244
  -256
  -268
  -281
  -295
  -309
  -324
  -340
  -357
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  29
  31
  33
  35
  38
  40
  42
  45
  48
  51
  53
  57
  60
  63
  66
  70
  74
  78
  82
  86
  91
  96
  101
  106
  111
  117
  123
  130
  136
  143
Cash available for distribution, $m
  437
  473
  505
  538
  573
  609
  646
  685
  725
  767
  807
  853
  901
  950
  1,002
  1,056
  1,112
  1,171
  1,233
  1,297
  1,365
  1,435
  1,509
  1,586
  1,668
  1,752
  1,841
  1,935
  2,032
  2,135
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  419
  433
  439
  443
  444
  442
  436
  428
  416
  402
  383
  364
  342
  319
  294
  268
  242
  216
  190
  165
  141
  119
  99
  81
  65
  51
  40
  30
  22
  16
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle. The Company operates retail stores under the names Tractor Supply Company, Del's Feed & Farm Supply and Petsense, and operates Websites under the names TractorSupply.com and Petsense.com. The Company's selection of merchandise consists of various product categories, including equine, livestock, pet and small animal products; hardware, truck, towing and tool products; seasonal products, including heating, lawn and garden items, power equipment, gifts and toys; work/recreational clothing and footwear, and maintenance products for agricultural and rural use. Its brands include 4health, JobSmart, Bit & Bridle, Paws & Claws, Blue Mountain, Redstone, Dumor, Equistages and Royal Wing.

FINANCIAL RATIOS  of  Tractor Supply (TSCO)

Valuation Ratios
P/E Ratio 23.9
Price to Sales 1.5
Price to Book 7.2
Price to Tangible Book
Price to Cash Flow 16.3
Price to Free Cash Flow 25.3
Growth Rates
Sales Growth Rate 8.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.6%
Cap. Spend. - 3 Yr. Gr. Rate 0.7%
Financial Strength
Quick Ratio 5
Current Ratio 0
LT Debt to Equity 20%
Total Debt to Equity 20.7%
Interest Coverage 116
Management Effectiveness
Return On Assets 17.5%
Ret/ On Assets - 3 Yr. Avg. 18.3%
Return On Total Capital 26.4%
Ret/ On T. Cap. - 3 Yr. Avg. 28.1%
Return On Equity 30.7%
Return On Equity - 3 Yr. Avg. 30.1%
Asset Turnover 2.7
Profitability Ratios
Gross Margin 34.3%
Gross Margin - 3 Yr. Avg. 34.3%
EBITDA Margin 12.3%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 10.2%
Oper. Margin - 3 Yr. Avg. 10.3%
Pre-Tax Margin 10.1%
Pre-Tax Margin - 3 Yr. Avg. 10.3%
Net Profit Margin 6.4%
Net Profit Margin - 3 Yr. Avg. 6.5%
Effective Tax Rate 36.5%
Eff/ Tax Rate - 3 Yr. Avg. 36.7%
Payout Ratio 27.9%

TSCO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TSCO stock intrinsic value calculation we used $7256 million for the last fiscal year's total revenue generated by Tractor Supply. The default revenue input number comes from 2017 income statement of Tractor Supply. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TSCO stock valuation model: a) initial revenue growth rate of 7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TSCO is calculated based on our internal credit rating of Tractor Supply, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tractor Supply.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TSCO stock the variable cost ratio is equal to 89.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TSCO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Tractor Supply.

Corporate tax rate of 27% is the nominal tax rate for Tractor Supply. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TSCO stock is equal to 0.4%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TSCO are equal to 15.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Tractor Supply operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TSCO is equal to 12.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1419 million for Tractor Supply - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 128 million for Tractor Supply is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tractor Supply at the current share price and the inputted number of shares is $10.2 billion.

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COMPANY NEWS

▶ Summer Adventure Begins in the Backyard with Chick Days   [Jul-18-18 02:00PM  GlobeNewswire]
▶ Sale of hydraulic fluid spurs call for class action   [Jul-12-18 04:02PM  American City Business Journals]
▶ Tractor Supply Company Releases 2017 Stewardship Report   [May-24-18 09:00AM  GlobeNewswire]
▶ Tractor Supply Keeps Growing Despite Weather Challenges   [Apr-27-18 08:51AM  Motley Fool]
▶ Tractor Supply: 1Q Earnings Snapshot   [08:18AM  Associated Press]
▶ Tractor Supply Kicks Off Semi-Annual 4-H Fundraiser   [Apr-05-18 02:41PM  GlobeNewswire]
▶ Tractor Supply Company Announces 1,700th Store Opening   [Apr-03-18 08:00AM  GlobeNewswire]
▶ 3 Bear Market Stock Picks That Can Soar   [Apr-02-18 11:51AM  Investopedia]
▶ Tractor Supply Co. Searching for 4-H, FFA Great Neighbors   [Mar-27-18 02:55PM  GlobeNewswire]
▶ Why Tractor Supply Stock Fell 15% in February   [Mar-07-18 02:31PM  Motley Fool]
▶ Top NYSE Companies To Buy For A Down Market   [Mar-05-18 03:05PM  Simply Wall St.]
▶ Tesco Execs to Face Another Jury Trial   [12:56PM  The Wall Street Journal]
▶ Investing Insights From an Asset Management Pro   [Feb-12-18 12:16PM  Motley Fool]
▶ Tractor Supply Company Declares Quarterly Dividend   [Feb-08-18 08:00AM  GlobeNewswire]
▶ Tractor Supply Hosting FFA Fundraiser Nationwide   [Feb-05-18 03:16PM  GlobeNewswire]
▶ Tractor Supply beats 4Q profit forecasts   [Jan-31-18 04:15PM  Associated Press]
▶ Tractor Supply's Earnings Outlook   [12:34PM  Benzinga]
▶ Top Stock Picks for the Week of January 22nd   [Jan-22-18 03:22PM  Zacks]
▶ Key Events for Consumer Stocks on January 1519   [Jan-17-18 10:31AM  Market Realist]
▶ Weather does matter for auto part stocks: Analyst   [Jan-05-18 02:14PM  CNBC Videos]
▶ Tractor Supply Earns Technical Rating Upgrade   [Dec-21-17 03:00AM  Investor's Business Daily]
▶ 3 Stocks That Could Double Your Money   [Dec-16-17 10:32AM  Motley Fool]
▶ Why Tractor Supply Company Rose 13% in November   [Dec-14-17 05:23PM  Motley Fool]
▶ GuruFocus Forum Shares 5 Good Stock Picks   [Dec-12-17 04:27PM  GuruFocus.com]
▶ Tractor Supply is Pulling Along the Bulls   [03:02PM  TheStreet.com]
▶ 3 Retail Stocks to Buy for the Brick-and-Mortar Resurgence   [Dec-06-17 12:10PM  InvestorPlace]
▶ 6 High Tax Paying Stocks to Buy Now   [Dec-05-17 02:08PM  InvestorPlace]
▶ Tractor Supply Keeps on Creating Value for Shareholders   [Nov-14-17 01:36PM  Motley Fool]
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