Piper Sandler Sees Pressure on Tractor Supply (TSCO) from Weak Pet Spending Trends

On May 5, Piper Sandler expert Peter Keith downgraded Tractor Supply Company (NASDAQ:TSCO) to Neutral from Overweight. It chopped the stock’s terms people to $36 from $51. The steadfast said it was downgrading the banal aft recommending the shares for the past 8 years. Keith noted that companion carnal trends could stay nether unit for respective years arsenic rising favored ownership costs measurement connected demand. He besides told investors successful a probe enactment that Piper sees hazard to Tractor Supply’s 2026 guidance pursuing what it described arsenic a “weak” first-quarter report.

On April 27, TD Cowen expert Max Rakhlenko lowered the firm’s terms proposal connected TSCO to $38 from $53. The expert reiterated a Hold standing connected the shares. The steadfast said Tractor Supply is moving to grow initiatives aimed astatine reaccelerating maturation successful the Companion Animal class and different parts of the business, though it believes advancement volition instrumentality time. Cowen added that comparable income could enactment pressured implicit the mean term. The steadfast besides said it expects the banal to stay range-bound successful the adjacent word and views second-quarter EPS arsenic a large catalyst.

Tractor Supply Company (NASDAQ:TSCO) is an American agrarian manner retailer focused connected serving recreational farmers and ranchers. The institution operates stores nether the Tractor Supply Company and Petsense by Tractor Supply brands.

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