Credit Suisse Downgrades Tractor Supply Company (TSCO) to Neutral

September 8, 2016 6:47 AM EDT
Get Alerts TSCO Hot Sheet
Price: $63.14 -2.11%

Rating Summary:
    13 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
Trade TSCO Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Credit Suisse downgraded Tractor Supply Company (NASDAQ: TSCO) from Outperform to Neutral with a price target of $72.00 (from $96.00) following lower guidance.

Analyst Seth Sigman commented, "We are lowering our rating on TSCO from Outperform to Neutral on the back of the weaker Q3 results, and the lack of visibility around the near-term demand drivers and the EPS growth algorithm. We show inside that TSCO's relative comps outperformance vs. the sector has supported its stock's premium valuation. If the issues TSCO pointed to are right, there is no reason to believe that there is an immediate rebound, absent very favorable Q4 weather trends. We lower our 2016 EPS to $3.25 (from $3.38) and 2017 to $3.58 (from $3.86), and our target price goes to $72, which is based on 20x our new 2017 EPS, a multiple that it has bottomed at in the recent past."

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 $83.53 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, Downgrades

Related Entities

Credit Suisse

Add Your Comment