Is Tractor Supply Co Stock a Buy?

When it comes to ranch and farm equipment, Tractor Supply Company (NASDAQ: TSCO) is probably the first retailer that comes to mind. The company is the largest rural retailer in the U.S. and sells a wide array of inventory ranging from pet food to lawn equipment.

Shares of Tractor Supply Company have been hitting new all-time highs and are up over 40% year to date, even as the world grapples with the COVID-19 pandemic. At these levels, the company is trading at a trailing price-to-earnings ratio of around 28 times.

Is this surge merely exuberance, or does the stock still qualify as a buy?

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Source Fool.com