Tractor Supply Stock In Focus After Acquisition, Analyst Revision: Retail’s Bullish

Shares of Tractor Supply Co ($TSCO) were down more than 3% on Monday after the rural lifestyle retailer closed the acquisition of Allivet, and received a lower price target revision from Barclays.

The company did not disclose the terms of the acquisition of Allivet, a privately-held online pet pharmacy, except to say it will provide a “$1-billion-revenue opportunity at full scale.” The acquisition of Allivet expands the company’s total addressable market by $15 billion to $225 billion, it added.

“This acquisition complements and expands our existing ‘Life Out Here’ product and services line-up. We look forward to providing our 37 million Neighbor's Club members with a value-oriented pet and animal prescription service and introducing Tractor Supply to Allivet's customers,” Hal Lawton, president and CEO of Tractor Supply, said in a statement.

Barclays lowered the firm's price target to $52 from $262 with an ‘equal weight’ rating on the shares following its 5-for-1 stock split of its common stock effective December 19, The Fly.com reported.

Retail sentiment on Stocktwits was ‘bullish’ compared to ‘neutral’ a day ago. Message volumes were in the ‘normal’ range.

TSCO sentiment meter and message volumes on Dec 30 as of 11:14 pm ET

Tractor Supply serves recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts. As of September 28, it operated 2,270 Tractor Supply stores in 49 states

Tractor Supply stock is up 21.4% year-to-date.

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