Robert Ohmes, an analyst from Bank of America Securities, maintained the Buy rating on Tractor Supply. The associated price target remains the same with $70.00.
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Robert Ohmes has given his Buy rating due to a combination of factors that suggest significant growth potential for Tractor Supply Company (TSCO). One of the key reasons is the company’s strategic initiatives, such as the expansion of the Neighbor’s Club, which boasts over 40 million members. This program lays the groundwork for personalized marketing and customer segmentation, which are expected to drive revenue growth. Additionally, TSCO’s focus on needs-based products positions it well against tariff impacts, with rural and ex-urban stores outperforming suburban locations.
Furthermore, the introduction of exclusive brands like Field & Stream is anticipated to attract more customers, enhancing store traffic. The company’s innovative ‘Final Mile’ delivery strategy, which integrates store and online deliveries, is another growth driver, expected to boost customer satisfaction and sales. These initiatives, along with disciplined inventory management and strategic pricing, underpin Ohmes’s optimistic outlook for TSCO, supporting his Buy rating.
In another report released on August 8, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $69.00 price target.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSCO in relation to earlier this year.