Tractor Supply Announces Another Lighter-Than-Expected Quarter; Shares Undervalued
Narrow-moat Tractor Supply released preliminary first-quarter results that place the company on a bit of a weaker earnings growth trajectory than we originally anticipated in 2017. This is the fourth of the past five quarters the company has disappointed investors early, and we are increasingly concerned that the focus on improved analytics is not matching the speed of changing weather patterns that the company is competing against. However, we will hold off judgment until we capture a complete ...Tractor Supply is a rural lifestyle retailer. The company is focused on supplying the needs of recreational farmers, ranchers and all those who enjoy living the rural lifestyle, as well as tradesmen and small businesses. 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 is comprised of the following main product categories: equine, livestock, pet, and small animal products; hardware, truck, towing, and tool products; seasonal products; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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