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Tractor Supply Company (NASDAQ:TSCO) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “outperform” rating in a research report issued on Thursday. The firm currently has a $65.00 price target on the stock, down from their previous price target of $70.00. Morgan Stanley’s target price suggests a potential upside of 5.90% from the company’s current price.

The analysts wrote, “We remain on the sidelines with TSCO and take our price target to $65 from $70 as the stock’s risk/reward seems fair. The Q2 shortfall (a 7% EPS miss) is not awful in an absolute sense and the longer-term growth story remains intact in our view. However, Q3 compares are more challenging (comps and EPS), implying a possible third quarter in a row of below-average growth. In addition, TSCO’s P/E multiple, even after last night’s 5% aftermarket decline, at 24x 2014 EPS is above the 5 year average of 21x.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank cut their price target on shares of Tractor Supply Company to $61.00 in a research note on Thursday. Separately, analysts at RBC Capital cut their price target on shares of Tractor Supply Company from $78.00 to $69.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of Tractor Supply Company from a “neutral” rating to an “outperform” rating in a research note on Thursday. They now have a $70.00 price target on the stock, down previously from $74.00. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Tractor Supply Company currently has an average rating of “Buy” and a consensus target price of $88.07.

Shares of Tractor Supply Company (NASDAQ:TSCO) opened at 61.38 on Thursday. Tractor Supply Company has a one year low of $58.025 and a one year high of $78.17. The stock has a 50-day moving average of $63.54 and a 200-day moving average of $68.14. The company has a market cap of $8.501 billion and a P/E ratio of 26.00.

Tractor Supply Company (NASDAQ:TSCO) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.37 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts predict that Tractor Supply Company will post $2.60 earnings per share for the current fiscal year.

Tractor Supply Company is an operator of retail farm and ranch stores in the United States. It operates retail stores under the names Tractor Supply Company and Del’s Feed & Farm Supply and operates a Website under the name TractorSupply.

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