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Spending on pet care continues to increase in good times and bad, and has posted a 10-year streak of annual sales growth.
IDEXX Laboratories, Inc.
Tractor Supply Company
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Central Garden & Pet Company
Phibro Animal Health Corporation
PetMed Express, Inc.
Tractor Supply Company (TSCO) has been witnessing significant growth in its online business since the beginning of second-quarter 2020.
Zacks.com featured highlights include: Myriad Genetics, Cinemark, Vericel and IDEXX Laboratories
Tractor Supply Company (NASDAQ: TSCO) expects record-breaking sales and earnings in the second quarter as a result of over 100 initiatives the rural lifestyle retailer implemented to meet the challenges of the COVID-19 pandemic. Although Tractor Supply won't report earnings until July 23, it says net sales and comparable sales are expected to grow 20% or more for the period. No fewer than 11 firms increased their price targets for Tractor Supply, with an average boost of 19%.
The "forever" part means investors have to think about the longevity of payout growth as well as reliable payments.
Tractor Supply provides financial outlook for Q2 2020 and announces strategic investments in its Team Members and consumer-shopping experience.
The number of deaths from the coronavirus that causes COVID-19 rose above 353,000 on Wednesday, as the World Health Organization said the Americas are at the center of the pandemic following surges in infections in Brazil, Peru, Chile and others in the past few days.
IBD Stock Of The Day: Tractor Supply broke out to a buy zone after the farm supply retailer reported faster Q1 growth and a very strong coronavirus outlook.
Tractor Supply is forecasting better-than-expected second-quarter sales and earnings, sending shares higher.
In this article we will take a look at whether hedge funds think Colgate-Palmolive Company (NYSE:CL) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from […]
Tractor Supply expects net sales growth of 24% to 29% and comparable-store sales growth of 20% to 25% during the current quarter.
The home-improvement retailer said it expects to earn between $2.45 and $2.65 in the quarter, well ahead of the $1.78 that analysts are forecasting.
Most readers would already know that Neogen's (NASDAQ:NEOG) stock increased by 8.9% over the past three months. Given...
Canopy Growth Corp. will beat sales estimates when it reports March quarter earnings on Friday, but the stock may benefit more from clear guidance on EBITDA and cash flow, Cantor Fitzgerald said Wednesday. At Cresco Labs, the focus will be second-quarter sales guidance and an an update of the timing and scope of Illinois and Pennsylvania cultivation capacity expansion, said Cantor analyst Pablo Zuanic in a note to clients. Cresco already released guidance for its March quarter sales. Finally,at MedMen "further dilution risk (on top of the 2.2x jump in the share count from Dec to Mar) keeps us sidelined; that said, we expect a COVID-related sales beat, but progress re cash burn may be more important for the stock," Zuanic wrote. The analyst rates Canopy, the Canadian market leader, at Neutral, rates Cresco Overweight and has a neutral rating on MedMen. Canopy shares were down 0.7% premarket, while Cresco and MedMen were not yet active. Canopy has fallen 5% in the year to date, while the Cannabis ETF has fallen 10% and the S&P 500 has fallen 7%.
Shares in Tractor Supply (TSCO) surged 9% in Tuesday’s after-hours trading, after the company pre-announced surprisingly impressive Q2 trends, featuring +24-29% sales growth and +20-25% comparable store sales growth.“Our outlook for record-breaking sales and earnings in the second quarter demonstrates the potential for Tractor Supply to emerge stronger than before as we continue to gain market share and build our business for the future,” said Hal Lawton, Tractor Supply’s CEO.Notably, TSCO’s e-commerce business has experienced substantial growth quarter-to-date with many customers choosing Buy Online, Pickup At Store and the new contactless curbside delivery option, the company stated.And while there is still a significant portion of the second quarter ahead, Tractor Supply is now forecasting net sales growth of 24% to 29% and comparable store sales growth of 20% to 25%.Building on first quarter momentum, the company’s gross profit performance continues to be strong with gross margin expansion anticipated for the second quarter.“For the second quarter, the net incremental operating expenses related to the COVID-19 pandemic are estimated to be at the high end of the Company’s previous guidance range of $30 million to $50 million” Tractor Supply said, with diluted earnings per share forecast at $2.45 to $2.65.Following the news Wells Fargo analyst Zachary Fadem exclaimed “Holy cow… reason to believe comps could be even better.” He continued: “Considering the timing of today’s release, we believe sales likely accelerated throughout the month of May, and with all of June remaining in Q2, we believe comps could be tracking even higher today (+30%).”In a category comprised of many sub-scale players, he sees TSCO as increasingly advantaged, and clearly benefitting from robust category demand (lawn/garden, pet, etc.), Omnichannel investments and its recently launched national ad campaign.“While we can’t help but think about next year’s tough compare, we continue to view TSCO a core holding in today’s market, favoring its staples-like offerings, high quality execution, and ample long-term comp drivers” he concluded. As a result, Fadem ramped up his price target to $130 from $105 previously.Similarly, Oppenheimer’s Brian Nagel boosted his price target from $110 to $135 on the news, while Baird’s price target rose to $130 from $115 previously. Overall the stock scores a Moderate Buy analyst consensus rating and $107 average analyst price target. Shares are currently trading up 19% on a year-to-date basis. (See Tractor Supply stock analysis on TipRanks).Related News: Autodesk Earnings: Here’s What To Expect Today Tilray To Shut Ontario Cannabis Greenhouse In Money-Saving Move Uber In Partnership With MoneyGram For Driver Discount During Pandemic More recent articles from Smarter Analyst: * Data Center Set to Send Nvidia Stock Soaring Even Higher * Google Pay App May Face Anti-Trust Probe In India – Report * Trump Threatens Twitter After It Labels His Tweets "Potentially Misleading" * General Electric Surges 8% Amid Sale Of Lighting Unit To Savant
IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in veterinary diagnostics, veterinary practice software and water microbiology testing, today provided an update on U.S. Companion Animal Market Trends through Friday, May 22nd.
Shares of Tractor Supply Co. rose more than 5% in the extended session Tuesday after the company said it expects "record-breaking sales and earnings" for its second quarter. That jump in sales is across channels, product categories, and geographic regions, the company said, with online buying experiencing "substantial growth." Tractor Supply forecast sales growth between 24% and 29% and same-store growth between 20% and 25%. Gross profit "continues to be strong with gross margin expansion anticipated for the second quarter," it said. Second-quarter operating expenses related to the coronavirus pandemic are estimated to be at the high end of the company's previous guidance range of between $30 million and $50 million, Tractor Supply said. Per-share earnings were seen in a range between $2.45 and $2.65. The company is slated to report second-quarter earnings on July 23. The outlook "demonstrates the potential for Tractor Supply to emerge stronger than before as we continue to gain market share and build our business for the future," Chief Executive Hal Lawton said in a statement. Tractor Supply ended the regular trading day down 0.6%.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]
Henry Schein (HSIC) registers dismal performance within Dental business on suspension of non-emergency procedures in response to the pandemic.
ODP vs. TSCO: Which Stock Is the Better Value Option?
You could ask 100 different analysts what they think about buying and selling stocks during COVID-19, and you might just get 100 different opinions. If you have $1,000 to invest, now could be a great opportunity to start a new position, and billion-dollar hedge fund managers have been scooping up shares of IDEXX Laboratories (NASDAQ: IDXX), Goodyear Tire (NASDAQ: GT) and Starbucks (NASDAQ: SBUX). You may not recognize IDEXX Laboratories, but if you're a pet owner there's a chance you've crossed paths with its products or services already.