Guggenheim Reiterates “Buy” Rating for Tractor Supply Company (TSCO)
Tractor Supply Company (NASDAQ:TSCO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a note issued to investors on Thursday. They currently have a $70.00 price target on the specialty retailer’s stock, down from their previous price target of $80.00. Guggenheim’s price objective points to a potential upside of 21.68% from the company’s current price.
A number of other analysts have also commented on TSCO. J P Morgan Chase & Co lowered Tractor Supply from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $88.00 to $67.00 in a report on Wednesday, April 12th. Stephens lowered Tractor Supply from an “overweight” rating to an “equal weight” rating and set a $65.00 price target on the stock. in a report on Wednesday, April 12th. Zacks Investment Research lowered Tractor Supply from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Barclays PLC set a $90.00 price target on Tractor Supply and gave the stock a “buy” rating in a report on Wednesday, April 12th. Finally, Robert W. Baird set a $80.00 price target on Tractor Supply and gave the stock a “buy” rating in a report on Wednesday, April 12th. Nineteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.73.
Shares of Tractor Supply (TSCO) traded up 7.73% during mid-day trading on Thursday, reaching $57.53. The company’s stock had a trading volume of 9,372,459 shares. The firm has a market cap of $7.40 billion, a PE ratio of 17.76 and a beta of 1.32. Tractor Supply has a 12 month low of $49.87 and a 12 month high of $92.11. The company has a 50-day moving average of $53.36 and a 200-day moving average of $64.03.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by $0.02. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.02 billion. Tractor Supply had a return on equity of 29.64% and a net margin of 6.25%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. On average, analysts predict that Tractor Supply will post $3.39 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position in Tractor Supply by 3.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,497 shares of the specialty retailer’s stock valued at $172,000 after buying an additional 91 shares during the last quarter. Dynamic Advisors Solutions LLC boosted its position in Tractor Supply by 3.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,065 shares of the specialty retailer’s stock valued at $211,000 after buying an additional 100 shares during the last quarter. Koch Industries Inc. acquired a new position in Tractor Supply during the first quarter valued at approximately $216,000. Gofen & Glossberg LLC IL boosted its position in Tractor Supply by 6.7% in the first quarter. Gofen & Glossberg LLC IL now owns 3,165 shares of the specialty retailer’s stock valued at $218,000 after buying an additional 200 shares during the last quarter. Finally, Cleararc Capital Inc. boosted its position in Tractor Supply by 0.9% in the first quarter. Cleararc Capital Inc. now owns 3,199 shares of the specialty retailer’s stock valued at $221,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 91.55% 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.
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