Oppenheimer Holdings Inc. Reaffirms “Outperform” Rating for Tractor Supply Co. (TSCO)
Tractor Supply Co. (NASDAQ:TSCO)‘s stock had its “outperform” rating restated by investment analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Friday. They currently have a $80.00 target price on the stock. Oppenheimer Holdings Inc.’s price objective indicates a potential upside of 17.86% from the company’s previous close.
A number of other equities analysts also recently weighed in on the stock. Goldman Sachs Group Inc. reissued a “sell” rating on shares of Tractor Supply in a report on Friday. BMO Capital Markets reissued a “market perform” rating and issued a $74.00 price target on shares of Tractor Supply in a report on Tuesday. Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Tractor Supply in a report on Friday, September 30th. Deutsche Bank AG cut their price target on shares of Tractor Supply from $76.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, September 30th. Finally, Barclays PLC reissued an “overweight” rating and issued a $90.00 price target on shares of Tractor Supply in a report on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $88.37.
Tractor Supply (NASDAQ:TSCO) opened at 67.88 on Friday. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 21.77 and a beta of 1.20. Tractor Supply has a 12-month low of $66.43 and a 12-month high of $97.25. The firm has a 50-day moving average of $74.32 and a 200 day moving average of $87.39.
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Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Wednesday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.16. Tractor Supply had a net margin of 6.57% and a return on equity of 30.30%. The firm earned $1.85 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Tractor Supply will post $3.24 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hanson McClain Inc. bought a new position in Tractor Supply during the second quarter valued at $104,000. BlueMountain Capital Management LLC acquired a new position in shares of Tractor Supply during the second quarter worth approximately $111,000. Seven Eight Capital LLC acquired a new position in shares of Tractor Supply during the first quarter worth approximately $123,000. Mizuho Asset Management Co. Ltd. boosted its position in shares of Tractor Supply by 95.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,693 shares of the company’s stock worth $154,000 after buying an additional 826 shares during the last quarter. Finally, Turner Investments L.P. acquired a new position in shares of Tractor Supply during the second quarter worth approximately $205,000. Institutional investors own 91.58% of the company’s stock.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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