Barclays Boosts PT on Tractor Supply (TSCO) as Strong Growth Continues

March 6, 2013 1:19 PM EST
Get Alerts TSCO Hot Sheet
Price: $74.79 -2.12%

Rating Summary:
    13 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Barclays raised its price target on Overweight-rated Tractor Supply Company (NASDAQ: TSCO) from $105 to $115 after the company's investor day.

"We see a clear path for Tractor Supply to continue its impressive growth and focus on shareholder value creation through driving sales, gross margin expansion, expense management and disciplined capital allocation," the analyst said.

Tractor Supply believes it can achieve an operating margin rate of 10.5% by 2017. Barclays is currently modeling operating margin of 10.9% in 2015 as they believe management's guidance continues to be conservative.

The firm also said they are impressed by management's focus on returning value to shareholders through dividend increases and share buybacks, while continuing to invest in future growth. "We believe management's targets for 14-16% in annual EPS growth through 2017, a 20-25% payout ratio, 15-20% dividend growth and $170-$290M in annual buybacks are achievable," they commented.

For an analyst ratings summary and ratings history on Tractor Supply Company click here. For more ratings news on Tractor Supply Company click here.

Shares of Tractor Supply Company closed at $104.29 yesterday.

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