KeyBanc Downgrades Tractor Supply Company (TSCO) to Hold; Near-Term Concerns

KeyBanc downgraded Tractor Supply Company (NASDAQ: TSCO) from Buy to Hold.

Analyst, Bradley B. Thomas, said, "We are downgrading Tractor Supply to HOLD, based on our view that the risk/reward has become more balanced as we look ahead to the coming quarters. Longer term, TSCO remains one of the more compelling growth stories in our coverage, with a strong management team, margin drivers, and ongoing unit growth potential. In the near term, we are taking a neutral tactical view on the stock. Specifically, we see increased risk from high valuation and lofty expectations, a likely deceleration in 2Q trends, a moderating inflation benefit, difficult comparisons, and industry datapoints that suggest softer consumer demand in recent months."

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 $87.91 yesterday.

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