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Top Stock Picks for Week of April 22, 2024

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Ryanair Holdings (RYAAY - Free Report) is the parent company of Ryanair Designated Activity Company (formerly known as Ryanair Limited). Ryanair continues to benefit from improved traffic growth. Traffic grew 10% during the first nine months of fiscal 2024. Management expects fiscal 2024 traffic to be 183.5 million. On the back of buoyant traffic scenario, its profit after tax also showed year-over-year improvement during the first nine months of fiscal 2024. The load factor was a healthy 94% in the first nine months of fiscal 2024. The carrier’s measures to expand its fleet, to cater to the rising travel demand, look encouraging. Partly due to these tailwinds, shares of Ryanair have outperformed its industry in the past year. Ryanair’s trailing 12-month return on equity (ROE) reflects its growth potential. It has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The upgrade of Ryanair to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.   

Tractor Supply Company (TSCO - Free Report) is the largest retail farm and ranch store chain in the United States. Shares of Tractor Supply have outpaced the industry in the past three months, courtesy of its sturdy demand and strong market share gains. Also, the buyout of Orscheln Farm and Home, and store openings bode well. The company is benefiting from its Life Out Here Strategy and the Neighbor’s Club membership program. Its ‘ONETractor’ strategy that is aimed at connecting store and online shopping also appears encouraging. In its upcoming report, Tractor Supply is predicted by Wall Street analysts to post quarterly earnings reflecting an increase compared to the same period last year. TSCO carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future.Tractor Supply recorded earnings surprises in two out of the last four reported quarters, with an average beat of 0.23%. The company is set to release earnings results on Apr 25, before the opening bell.  

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