Tractor Supply Trading Down 4% After Goldman Lowers Estimates
Shares of Tractor Supply (NASDAQ: TSCO) are falling on heavy volume during Monday's trading session after analysts at Goldman Sachs (NYSE: GS) lowered their earnings estimates for the company. The firm also trimmed their 12-month price target on the stock from $100 to $93.
The analysts cited commentary from Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) about demand pull forward of outdoor power equipment sales in the February/March timeframe versus April, the ongoing retreat in commodity prices, and "nominally more moderate gross margin expansion in the second half of 2012 and in 2013." At last check, TSCO shares had lost 4.14% to $85.88 on above average volume.
Tractor Supply Company is an operator of retail farm and ranch stores in the United States. The Company operates retail stores under the names Tractor Supply Company and Del's Farm Supply and operate a Website under the name TractorSupply.com
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.