Nomura Securities Maintains a 'Buy' on Tractor Supply Company (TSCO); Adjusting FY12/13 Estimates
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Price: $112.60 -0.29%
Rating Summary:
13 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
13 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade TSCO Now!
Nomura Securities maintains a 'Buy' on Tractor Supply Company (NASDAQ: TSCO) price target of $110.00.
Analyst, Aram Rubinson, said, "As with many in retail, Q2 has been closely watched due to factors, including weather, inflation, calendar shifts and consumer trends. The share price reflects a high degree of anxiety. That fear is exacerbated by a tough Q3 11 comp (11.5%) and a weather-assisted Q1 12 comp (11.5%). At ~8.8x 2013E EBITDA, TSCO does not trade at great prices. However, our aim is to buy great companies at good prices. Other companies have paid a high price for moderating top-line trends, but we simply do not see trends that would be considered troubling beyond the very short term. Yet despite that, TSCO trades at a modest (~5%) premium to HD on 2013E EBITDA even though HD has 0% unit growth and comps that are largely dependent upon housing. TSCO trades at an even slighter premium to PetSmart (Nasdaq: PETM) (~3%) despite better growth and competitive dynamics. FY12 EPS estimate from $3.85 to $3.78, FY13 EPS from $4.60 to $4.57."
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 $77.98 yesterday, with a 52 week range of $49.02-$101.20.
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Analyst, Aram Rubinson, said, "As with many in retail, Q2 has been closely watched due to factors, including weather, inflation, calendar shifts and consumer trends. The share price reflects a high degree of anxiety. That fear is exacerbated by a tough Q3 11 comp (11.5%) and a weather-assisted Q1 12 comp (11.5%). At ~8.8x 2013E EBITDA, TSCO does not trade at great prices. However, our aim is to buy great companies at good prices. Other companies have paid a high price for moderating top-line trends, but we simply do not see trends that would be considered troubling beyond the very short term. Yet despite that, TSCO trades at a modest (~5%) premium to HD on 2013E EBITDA even though HD has 0% unit growth and comps that are largely dependent upon housing. TSCO trades at an even slighter premium to PetSmart (Nasdaq: PETM) (~3%) despite better growth and competitive dynamics. FY12 EPS estimate from $3.85 to $3.78, FY13 EPS from $4.60 to $4.57."
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 $77.98 yesterday, with a 52 week range of $49.02-$101.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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