Tractor Supply has traded in a relatively narrow range for a few months. It hasn't just been spinning its wheels though. Tractor Supply stock has held near an all-time high it set in March and looks like it could be prepping for another run higher. On Tuesday, the Relative Strength Rating for Tractor Supply stock climbed to 81, clearing a key threshold.
The new 81 RS Rating means that Tractor Supply stock outperformed 81% of stocks in terms of price strength over the past year. CAN SLIM investors know that stocks that go on to make the biggest gains often have an 80 or higher RS Rating in the early stages of their moves.
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Tractor Supply Stock Eyes Fresh All-Time High
Tractor Supply stock rose to an all-time high 241.54 on March 31 before consolidating. Then it crossed above its 50-day line on Aug. 12, shortly after a fresh market rally launched. The stock is working on a consolidation with a 241.64 buy point. See if it can break out in volume at least 40% higher than normal. Tuesday afternoon, Tractor Supply stock traded at 200.80, down fractionally for the day in sync with market action.
In terms of fundamentals, the Brentwood, Tenn.-based company showed 11% earnings growth in the latest quarterly report, to $3.53 per share. In the three quarters before that, it recorded 20% and 18% growth, then dipped to 8% in the March 31-ended quarter before rising to 11%. Sales in its most recent quarter grew 8% to $3.9 billion.
Profit Rating Tops 90% Of Companies
Among its other key ratings, farm implements retailer Tractor Supply has an outstanding 91 EPS Rating and a strong 86 Composite Rating. However, Tractor Supply stock has a mild D- Accumulation/Distribution Rating. Look for the watchlist candidate's last rating to improve to a C or better.
Tractor Supply stock earns the No. 9 rank among its peers in the Retail/Wholesale-Building Products group. Beacon Roofing Supply and GMS are among the group's highest-rated stocks.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive Relative Strength Rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
