On October 23, Tractor Supply posted an Intraday Rise of 5.03% in Regular Trading, trading around 34.385 dollars with turnover of 751 million dollars.
The move coincided with a fresh target-price increase from Wells Fargo, which lifted its target to 38 dollars from 36 dollars, a level above the current share price and supportive of near-term sentiment.
The backdrop was the company’s fiscal third-quarter report released a day earlier. Tractor Supply posted diluted EPS of 0.43 dollars versus market expectations of 0.41 dollars, while net sales rose to 3.91 billion dollars from 3.72 billion dollars a year earlier and exceeded the 3.82 billion dollar consensus. The company also reiterated full-year adjusted EPS guidance of 1.90 to 2.00 dollars and net sales growth guidance of 2.5% to 3.5%. Although earnings declined from 0.49 dollars a year earlier, the combination of an earnings beat and the higher analyst target appears to be the main catalyst for the share rise.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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