Thu, Sep. 8, 12:50 PM
Thu, Sep. 8, 9:23 AM
Thu, Sep. 8, 8:36 AM
- Shares of Tractor Supply (NASDAQ:TSCO) have plunged 14% premarket following two downgrades after the company cut its 2016 outlook and issued disappointing Q3 guidance.
- Wedbush lowered the stock to neutral from outperform and cut the price target to $72, saying the firm is suffering from macro trends and "limited sales drivers."
- Credit Suisse also downgraded the stock to neutral from outperform based on the guidance and expected near-term pressure.
Wed, Sep. 7, 5:59 PM
- Tractor Supply (NASDAQ:TSCO) -9.4% AH after guiding Q3 below consensus and lowering FY 2016 guidance, citing economic headwinds impacting consumer spending throughout many of its markets, particularly the energy producing and agricultural markets.
- TSCO now expects Q3 EPS of $0.65-$0.67 vs. $0.72 analyst consensus, on net sales forecast to increase 4.2%-5% to $1.54B-$1.55B vs. $1.61B consensus and $1.48B in the year-ago quarter; comparable store sales are seen flat to a 1% decline vs. a 2.9% increase in last year's Q3.
- TSCO also cuts FY 2016 guidance, expecting EPS of $3.22-$3.26 vs. $3.38 analyst consensus and prior guidance of $3.35-$3.40, while revenues are forecast at $6.7B-$6.75B vs. $6.84B consensus and prior outlook of $6.8B-$6.9B.
Wed, Sep. 7, 5:36 PM
Tue, Aug. 2, 8:20 AM
Wed, Jul. 20, 4:02 PM
Tue, Jul. 19, 5:35 PM
Thu, Jun. 30, 8:35 AM
- The pullback in the stock following last night's cut in guidance is a buying opportunity, says Piper Jaffray's Peter Keith, maintaining his Overweight rating, though cutting the price target to $103 from $105 (current is $91.98).
- 1) Q2 weakness appears to be mostly weather-induced; 2) Sales trends have rebounded since Memorial Day; 3) A just-rolled out inventory system should start paying dividends; 4) The stock appears set to open at a healthy discount to its historic 25x P/E multiple.
- "We can see nothing with Q2 that represents a structural change to the story, and all of the favorable long-term drivers (limited e-com threat, favorable demographics, fragmented competition, etc.) remain intact."
- TSCO -3.35% premarket.
Wed, Jun. 29, 5:38 PM
Wed, Jun. 29, 4:51 PM
- Tractor Supply Co. (NASDAQ:TSCO) has resumed trading and is down 6.8%, after it lowered guidance at today's market close.
- The company cut its forecast for full-year comparable-store sales growth to 2.5%-3.5% following a challenging Q2. It lowered expectations for overall net sales and net income as well.
- Including today's gain during the regular session, TSCO is up 11.3% YTD.
Wed, Jun. 29, 4:10 PM
- Tractor Supply Co. (TSCO +1.1%) has lowered guidance amid softness in comparable store sales after a weaker than expected spring.
- With Q2 net sales coming in at $1.85B, the company sees fiscal 2016 net sales of $6.8B-$6.9B, down from a previous $6.9B-$7B (and vs. consensus for $6.95B).
- It also expects comparable store sales growth for the year of 2.5-3.5% (down from previous 3.5-5%), net income of $451M-$456M (down from $455M-$467M) and EPS of $3.35-$3.40, down from $3.40-$3.48 (and vs. consensus for $3.50).
- "As our preliminary results show, we had a challenging second quarter," said CEO Greg Sandfort. "While our traffic trends remained positive and the sale of core pet and animal offerings remained strong, we did experience weakness in many of our seasonal and big ticket categories."
- Shares were halted at the close for the news; they'll resume trading at 4:30 p.m. ET.
Mon, Jun. 27, 11:28 AM
- Investors may be tempted to put money into hardline retailers post-Brexit, but, says Credit Suisse's Seth Sigman, just because they have limited exposure to Europe doesn't mean they're totally insulated. Previous market shocks had the group underperforming the S&P 500 by 500 basis points.
- Three trends to be mindful of: Troubles in Europe could hit stocks which could hit the U.S. consumer, interest rates will stay lower for longer, and the dollar will remain strong.
- The safest ares are home improvement and auto parts - think Home Depot (HD -1.8%), Lowe's (LOW -1.7%), Tractor Supply (TSCO -0.3%). There's also stocks with specific catalyst or plays into near-term fear - think Advance Auto Parts (AAP -0.5%), Dick's (DKS -3.6%), and Sportsmans Warehouse (SPWH -2.8%).
Mon, Jun. 27, 9:54 AM
- Thanks to two mega trends - the aging of the baby boomers and the craze for organic food - hobbyist farming is enjoying a new golden age.
- Tractor Supply (TSCO) is likely to improve its same-store sales this year, while most retailers are struggling, according to a report in Barron's.
- "Wall Street has noticed the virtues. At a recent $93.54, the stock is up 9% this year, more than double the gains of the broad market. The shares now trade at a lofty 25x estimated earnings for the next 12 months. That, however, is in line with the premium the stock has normally commanded, and some nice price gains could still lie ahead, perhaps up to 20%, thanks to solid earnings growth."
Tue, Jun. 14, 9:09 AM
Tue, May 3, 8:18 AM