Tractor Supply Company’s Neutral Rating Reaffirmed at Zacks (TSCO)
Tractor Supply Company (NASDAQ:TSCO)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Wednesday. They currently have a $65.00 price objective on the stock. Zacks‘s target price indicates a potential upside of 5.14% from the stock’s previous close.
Zacks’ analyst wrote, “Although, Tractor Supply disappointed investors to some extent by issuing a modest profit warning for the rest of 2014, we commend the company’s constant endeavors to remain focused on growth, which has led it to produce desirable results amid a soft economic environment. The company’s second-quarter 2014 earnings gained from improvement in the top line. The company is constantly revamping itself through concentrating on square footage growth and enhancement of store productivity which we believe will boost its revenue as well as profitability. Going forward, the company will remain focused on managing inventories, shipment timings and marketing strategies. However, we remain somewhat cautious due to the sluggish economic recovery and challenges posed by rising material costs. Hence, we maintain our long-term Neutral recommendation on the stock.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Avondale Partners downgraded shares of Tractor Supply Company from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Separately, analysts at Feltl & Co. upgraded shares of Tractor Supply Company from a “hold” rating to a “buy” rating in a research note on Thursday, July 24th. Finally, analysts at William Blair downgraded shares of Tractor Supply Company from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 24th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.33.
Shares of Tractor Supply Company (NASDAQ:TSCO) traded down 0.31% during mid-day trading on Wednesday, hitting $61.63. The stock had a trading volume of 454,132 shares. Tractor Supply Company has a 1-year low of $57.20 and a 1-year high of $78.17. The stock’s 50-day moving average is $61.99 and its 200-day moving average is $66.28. The company has a market cap of $8.529 billion and a P/E ratio of 25.35.
Tractor Supply Company (NASDAQ:TSCO) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Tractor Supply Company will post $2.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, August 14th.
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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