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Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Tractor Supply (TSCO)

Headquartered in Brentwood, TN, Tractor Supply Company is the largest retail farm and ranch store chain in the United States. The company focuses on recreational farmers and ranchers as well as tradesmen and small businesses. It offers a wide array of merchandise such as livestock, pet and animal products, maintenance products for agricultural and rural use, hardware and tools, lawn and garden power equipment, truck and towing products, and work apparel.

TSCO boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Tractor Supply has seen some interesting price action recently; the stock is up 9.7% over the past one week and up 7.6% over the past four weeks. And in the last one-year period, TSCO has gained 16.3%. As for the stock's trading volume, 1,121,202 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For TSCO, 10 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.14 to $10.30 per share for 2024. TSCO boasts an average earnings surprise of 2.7%.

Investors should take the time to consider TSCO for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Tractor Supply Company (TSCO) : Free Stock Analysis Report

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