DA Davidson Lowers Price Target on Tractor Supply (TSCO). Here is Why

With an annual dividend yield of 3.12%, Tractor Supply Company (NASDAQ:TSCO) is included among the 12 Best NASDAQ Stocks to Buy for Dividends.

Tractor Supply Company (NASDAQ:TSCO) is the largest rural lifestyle retailer in the United States. The company is the source for farm supplies, pet and animal feed and supplies, clothing, tools, fencing, and so much more.

On June 22, DA Davidson analyst Michael Baker trimmed the firm's price target on Tractor Supply Company (NASDAQ:TSCO) from $50 to $40, but maintained a 'Buy' rating on the shares. The lowered target still indicates an upside of 33% from the current levels.

The firm lowered its estimates after the recovery that it expected following Tractor Supply's Q1 earnings miss failed to materialize, as per its leading indicator analysis. Even with the reduced estimates, TSCO is currently trading at its lowest valuation in a decade on a price-to-earnings basis.

Tractor Supply Company (NASDAQ:TSCO) fell behind estimates in its first-quarter report in April, hurt by weak discretionary spending and softer demand ​in animal-care categories amid the uncertain macroeconomic environment. That said, the company's sales increased 3.6% during

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/da-davidson-lowers-price-target-041038196.html)