Analyst Max Rakhlenko of TD Cowen maintained a Hold rating on Tractor Supply, with a price target of $62.00.
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Max Rakhlenko’s rating is based on a combination of factors, including the progress Tractor Supply has made with its key initiatives and the company’s future potential. While there is optimism about the company’s performance in the third quarter and expectations for continued momentum into fiscal year 2026, there is a perceived lack of significant upside to the current Street estimates and valuation.
Rakhlenko acknowledges the solid third-quarter comparable sales and anticipates a strong fourth quarter, despite some early challenges due to weather conditions. The ongoing initiatives, such as Direct Sales and Final Mile, are scaling as expected, but they come with startup costs that are factored into the fiscal year 2025 guidance. Although these initiatives are promising, Rakhlenko remains cautious about the immediate impact on the company’s financials, leading to a Hold rating.
Based on the recent corporate insider activity of 86 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.