Wedbush Remains Bullish on The Tractor Supply Company (TSCO) and Raises Price Target
Tweet
Share
E-mailGet Alerts TSCO Hot Sheet
Price: $36.42 -0.03%
Rating Summary:
25 Buy, 18 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 17 | Down: 12 | New: 9
Rating Summary:
25 Buy, 18 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 17 | Down: 12 | New: 9
Join SI Premium – FREE
Wedbush is reiterating its Outperform rating on shares of Tractor Supply Company (NASDAQ: TSCO), while raising its price target from $82 to $96.
The company reported EPS of $0.96 for Q4, topping the firm's and Street's forecasts of $0.94 and $0.92. Due to higher transportation costs, mix shift toward consumables, and a charge for a discontinued product line, gross margin fell 10 bps to 32.5 percent.
An analyst at Wedbush comments, "The company continues to execute solidly in a difficult environment and has the seasoned management team and strategic initiatives in place to navigate through it. The company’s track record has been very strong, and we believe this should sustain TSCO’s multiple relative to the hardlines peer group. We see opportunity for further upside from big-ticket items, livestock feed, outdoor power equipment, seasonal merchandise, private label, price optimization, and other systems investments. The company now has a dedicated product development team, which has rationalized"
The firm is reaffirming its FY12 EPS estimate of $3.50, but is lowering its sales estimate from $4.65 billion to $4.62 billion. Wedbush is also introducing its FY13 EPS estimate at $4.05.
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 $81.79 yesterday.
The company reported EPS of $0.96 for Q4, topping the firm's and Street's forecasts of $0.94 and $0.92. Due to higher transportation costs, mix shift toward consumables, and a charge for a discontinued product line, gross margin fell 10 bps to 32.5 percent.
An analyst at Wedbush comments, "The company continues to execute solidly in a difficult environment and has the seasoned management team and strategic initiatives in place to navigate through it. The company’s track record has been very strong, and we believe this should sustain TSCO’s multiple relative to the hardlines peer group. We see opportunity for further upside from big-ticket items, livestock feed, outdoor power equipment, seasonal merchandise, private label, price optimization, and other systems investments. The company now has a dedicated product development team, which has rationalized"
The firm is reaffirming its FY12 EPS estimate of $3.50, but is lowering its sales estimate from $4.65 billion to $4.62 billion. Wedbush is also introducing its FY13 EPS estimate at $4.05.
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 $81.79 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trimble Navigation (TRMB) PT Lowered to $73 at Bernstein SocGen Group
- 'eToro Group (ETOR) Back To Show Me Status'; PT Lowered to $35 at TD Cowen
- JPMorgan Upgrades Akamai Technologies (AKAM) to Neutral 'on Account of Confidence in Revenue Reacceleration'
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
