Barclays PLC Reiterates Overweight Rating for Tractor Supply Company (NASDAQ:TSCO)
Tractor Supply Company (NASDAQ:TSCO)‘s stock had its “overweight” rating reissued by equities researchers at Barclays PLC in a research report issued to clients and investors on Saturday. They presently have a $70.00 target price on the specialty retailer’s stock, down from their previous target price of $90.00. Barclays PLC’s target price would suggest a potential upside of 33.05% from the stock’s previous close.
A number of other research analysts have also recently commented on the stock. BidaskClub raised shares of Tractor Supply from a “sell” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets set a $57.00 target price on shares of Tractor Supply and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Telsey Advisory Group dropped their price target on shares of Tractor Supply from $83.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, July 6th. CIBC lowered shares of Tractor Supply from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 4th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Tractor Supply in a research note on Thursday, May 4th. Twenty equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Tractor Supply has an average rating of “Hold” and an average target price of $77.64.
Shares of Tractor Supply (NASDAQ TSCO) traded up 1.11% during midday trading on Friday, hitting $52.61. 2,413,977 shares of the company’s stock were exchanged. The stock has a market cap of $6.76 billion, a PE ratio of 16.24 and a beta of 1.32. The stock’s 50 day moving average is $53.61 and its 200-day moving average is $64.74. Tractor Supply has a 1-year low of $49.87 and a 1-year high of $92.11.
Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Wednesday, April 26th. The specialty retailer reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Tractor Supply had a net margin of 6.25% and a return on equity of 29.64%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts predict that Tractor Supply will post $3.40 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its position in Tractor Supply by 2.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 419,568 shares of the specialty retailer’s stock valued at $28,938,000 after buying an additional 9,351 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Tractor Supply during the first quarter valued at approximately $1,655,000. WCM Investment Management CA raised its position in Tractor Supply by 2.2% in the first quarter. WCM Investment Management CA now owns 437,624 shares of the specialty retailer’s stock valued at $30,183,000 after buying an additional 9,425 shares in the last quarter. Engineers Gate Manager LP raised its position in Tractor Supply by 276.8% in the first quarter. Engineers Gate Manager LP now owns 60,810 shares of the specialty retailer’s stock valued at $4,194,000 after buying an additional 44,673 shares in the last quarter. Finally, Tredje AP fonden raised its position in Tractor Supply by 22.8% in the first quarter. Tredje AP fonden now owns 9,320 shares of the specialty retailer’s stock valued at $643,000 after buying an additional 1,730 shares in the last quarter. Institutional investors and hedge funds own 91.83% 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 is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
Receive News & Ratings for Tractor Supply Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tractor Supply Company and related companies with MarketBeat.com's FREE daily email newsletter.