2024-07-26 07:30:00 ET
Summary
- Tractor Supply is a smaller core holding in my portfolio.
- The company posted net sales and diluted EPS growth in the second quarter.
- Tractor Supply's corporate credit rating is investment-grade.
- The stock has swung from slightly overvalued to modestly undervalued.
- Tractor Supply's annual total return potential is enough to warrant an upgrade back to a buy rating.
Anybody who has been invested in equities for a while knows the volatility that goes along with it. I find that the intersection of facts (e.g., fundamentals) and market sentiment (i.e., human emotions and market algorithms) can create an interesting game to watch unfold.
In the blink of an eye, these dynamics can cause a stock to become oversold or overbought. Only to eventually reverse course once again....
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For further details see:
Tractor Supply: Now Back To A Buy (Rating Upgrade)