Don't buy Tractor Supply's stock ahead of likely earnings miss, BofA warns

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Tractor Supply stock fell Tuesday after BofA Securities downgraded it two days before the farm- and ranch-products retailer reports quarterly results.

Shares of Tractor Supply Co. were knocked lower Tuesday, after the retailer of farm and ranch products was downgraded two days before it reports quarterly results, as BofA Securities’ Jason Haas warned investors that they’ll likely be disappointing.

Haas cut his rating on the stock TSCO to neutral, after being at buy for the past 13 months. He slashed his price target by 16%, to $226 from $270. The Tennessee-based company is slated to report second-quarter results on Thursday, before the opening bell. The FactSet consensus for earnings per share is $3.92, and the company’s latest full-year EPS guidance is for $10.30 to $10.60.

During a time of similar commodities deflation in 2014, Haas noted that Tractor Supply’s comps were pressured and the stock tumbled more than 25%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines