Argus Downgrades Tractor Supply Company (TSCO) to Hold
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Argus downgraded Tractor Supply Company (NASDAQ: TSCO) from Buy to Hold.
The analyst noted management said that weakness in the energy and agricultural sectors had hurt consumer spending and company revenue in the South and Midwest. The company is also seeing weak demand for heating products in the Northeast.
The firm is lowering 2016 EPS estimate from $3.46 to $3.27 and 2017 estimate from $3.90 to $3.70. The firm is also cutting its five-year earnings growth rate forecast from 17% to 12%.
Shares of Tractor Supply Company closed at $62.07 yesterday.
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