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Research Note Summary
Deep in the heart of Tennessee, there is a company with roots dating to 1938 and known for a chain of retail stores across America that sell items such as lawn and garden care, agricultural supplies, and work/recreational clothing, among other things.
Today, I’ll be saddling up and covering Tractor Supply Company (NASDAQ:TSCO), which had its Q3 earnings release about a month ago, and is gearing up for the holiday shopping season.
Tractor Supply got a modest buy rating from me today, driven by recent YoY growth in both the top and bottom lines, equity, and cashflow growth, in addition to a 3 year dividend growth and cheap share price relative to the moving average.
Some headwinds to this stock include overvaluation and underperformance vs the S&P500 index.
The risks of rising debt and interest expense were offset by a