KeyBanc Raises Price Target on Tractor Supply (TSCO), Grows Market Share With no Direct Competition
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Price: $34.98 -0.2%
Rating Summary:
25 Buy, 18 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
25 Buy, 18 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Following recent talks with upper management, KeyBanc is reiterating its Buy rating on shares of Tractor Supply Company (NASDAQ: TSCO) and is raising its price target from $80 to $85.
The firm notes that TSCO is still one of the top compelling growth stories in which they cover. The three main factors that KeyBanc took away from the meeting include the attractiveness of the company's competitive dynamics, TSCO continues to increase its market share, and that significant upside remains in margins.
KeyBanc reports that TSCO is "insulated from the Internet" as a result of its customer demographic, the convenience, and high level of service that its employees offer.
An analyst at KeyBanc comments, "We view Tractor Supply as a unique retail concept with few direct competitors. While it has a large amount of products that can be found at other retailers, Tractor Supply is the only store that offers products suited for the rural lifestyle within one store. For example, Home Depot (NYSE: HD) and Lowe’s (NYSE: LOW) might carry similar hardware and tools, but Tractor Supply is able to supply these tools, as well as animal feed and apparel, within a convenient 16,000 square foot store staffed with helpful experts. As a result, Tractor Supply dominates its niche serving a rural lifestyle. In fact, the Company is the number one national retailer of animal feed."
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 $75.40 yesterday.
The firm notes that TSCO is still one of the top compelling growth stories in which they cover. The three main factors that KeyBanc took away from the meeting include the attractiveness of the company's competitive dynamics, TSCO continues to increase its market share, and that significant upside remains in margins.
KeyBanc reports that TSCO is "insulated from the Internet" as a result of its customer demographic, the convenience, and high level of service that its employees offer.
An analyst at KeyBanc comments, "We view Tractor Supply as a unique retail concept with few direct competitors. While it has a large amount of products that can be found at other retailers, Tractor Supply is the only store that offers products suited for the rural lifestyle within one store. For example, Home Depot (NYSE: HD) and Lowe’s (NYSE: LOW) might carry similar hardware and tools, but Tractor Supply is able to supply these tools, as well as animal feed and apparel, within a convenient 16,000 square foot store staffed with helpful experts. As a result, Tractor Supply dominates its niche serving a rural lifestyle. In fact, the Company is the number one national retailer of animal feed."
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 $75.40 yesterday.
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