Benchmark Co. analyst John Lawrence maintains $Tractor Supply (TSCO.US)$ with a buy rating, and adjusts the target price from $280 to $310.
According to TipRanks data, the analyst has a success rate of 65.0% and a total average return of 16.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Tractor Supply (TSCO.US)$'s main analysts recently are as follows:
It was anticipated that shares were primed for an upward revision in estimates prior to the earnings announcement. However, subtle hints from the company have led to a slight decrease in projections for 2025. It is expected that the company will reveal the next phase of its strategy in December, potentially generating enthusiasm for the retailer's future prospects.
Tractor Supply's sales continue to exhibit weakness, casting doubt on its prospects to achieve its mid-single-digit comp target. It is anticipated that margin increases will begin to diminish. However, the company is recognized for offering a degree of defensiveness and exposure to possible post-election trends, which might maintain share value.
The company's recent performance, characterized by alignment with quarterly expectations and an increase in the lower end of the guidance range, failed to maintain the stock's position near its historic peak. Analysts suggest that the stock's valuation, considered high prior to earnings, did not present much opportunity for growth, given the current multiples relative to next year's earnings and EBITDA. Projections for the fiscal years 2024 and 2025 have remained consistent, with no changes to the earnings per share forecasts.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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