Nomura Securities Maintains a 'Buy' on Tractor Supply Company (TSCO); Q2 Review: Pulling Through The Challenges
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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, "Tractor Supply reported a strong Q2 despite a varied set of risks. To be sure, the quarter endured a 3% sales ‘pull forward’ into Q1, a less-than-expected pace of inflation, drought-like conditions in key markets and a weaker macroeconomic trend. Despite all those challenges, TSCO reported a comp gain of 3.2%, comp traffic growth of 3.0% and gross profit comps of 5.5%. The net result was a $0.06 EPS beat vs. consensus and a similar upward revision to full-year guidance. Through prudent purchasing, TSCO was able to manage inventories down. We believe that there are still many ways to win for investors in TSCO. New units are growing 8% per year; we think comps are likely to grow 5% or more. Heading into the quarter, TSCO shares were trading at a very modest premium to Home Depot (NYSE: HD) and PetSmart (Nasdaq: PETM)."
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 $79.05 yesterday, with a 52 week range of $49.02-$101.20.
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Analyst, Aram Rubinson, said, "Tractor Supply reported a strong Q2 despite a varied set of risks. To be sure, the quarter endured a 3% sales ‘pull forward’ into Q1, a less-than-expected pace of inflation, drought-like conditions in key markets and a weaker macroeconomic trend. Despite all those challenges, TSCO reported a comp gain of 3.2%, comp traffic growth of 3.0% and gross profit comps of 5.5%. The net result was a $0.06 EPS beat vs. consensus and a similar upward revision to full-year guidance. Through prudent purchasing, TSCO was able to manage inventories down. We believe that there are still many ways to win for investors in TSCO. New units are growing 8% per year; we think comps are likely to grow 5% or more. Heading into the quarter, TSCO shares were trading at a very modest premium to Home Depot (NYSE: HD) and PetSmart (Nasdaq: PETM)."
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 $79.05 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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