Tractor Supply Company (NASDAQ:TSCO) is a leading American specialty retail chain that sells farm and ranch supplies, home improvement goods, and livestock products. The company serves a customer base of recreational farmers and ranchers. Following recent news, Tractor Supply's share price declined 12.41% to $39.25, hitting a new 52-week low after a significant trading volume of over 20.26 million shares.
Reflecting this performance, Jefferies equity analyst Jonathan Matuszewski lowered the stock price target for Tractor Supply to $51 from $60. At the time of the rating, the stock was trading at $39.26. This new target suggests a potential upside of 29.91% if the stock reaches the analyst's new price forecast.
The analyst's revision follows the company's first-quarter report, where it missed expectations. As highlighted by Fool.com, analysts forecasted earnings of $0.34 per share, but Tractor Supply reported only $0.31. Quarterly revenue performance also came in just under $3.6 billion, slightly missing the consensus estimate, although it was a 3.6% increase from the prior year's $3.47 billion.
This quarterly earnings miss is partly due to a 9% decline in earnings, driven by a more than 6% increase in selling, general, and administrative expenses. These are the costs associated with running the business. The company also reported weak same-store sales growth of only 0.5%, a metric that tracks sales at stores open for at least one year.
Despite the weak in-store results, the company saw strong double-digit growth in its e-commerce sales, as reported by Business Wire. Looking ahead, Tractor Supply reaffirmed its financial outlook for the fiscal year 2026. It anticipates comparable store sales growth to be between 1% and 3% and total sales growth to reach as high as 6%.
