Argus Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $64.00

Tractor Supply (NASDAQ:TSCOGet Free Report) had its price target reduced by equities researchers at Argus from $67.00 to $64.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Argus’ price objective would indicate a potential upside of 19.69% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Stephens set a $53.00 price target on shares of Tractor Supply and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Evercore ISI reiterated an “outperform” rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday. Telsey Advisory Group cut their target price on Tractor Supply from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. JPMorgan Chase & Co. lowered their price target on Tractor Supply from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Finally, The Goldman Sachs Group set a $59.00 price objective on Tractor Supply and gave the company a “buy” rating in a research note on Friday. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.78.

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Tractor Supply Trading Up 0.9%

Shares of Tractor Supply stock opened at $53.47 on Monday. The stock has a 50 day moving average of $52.28 and a 200 day moving average of $55.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34. The firm has a market capitalization of $28.25 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.66 and a beta of 0.74. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $63.99.

Tractor Supply (NASDAQ:TSCOGet Free Report) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. As a group, research analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds and other institutional investors have recently modified their holdings of TSCO. Garner Asset Management Corp purchased a new position in Tractor Supply in the fourth quarter valued at $25,000. Delos Wealth Advisors LLC acquired a new position in shares of Tractor Supply during the 2nd quarter worth about $26,000. Aventura Private Wealth LLC purchased a new position in shares of Tractor Supply in the 4th quarter valued at about $27,000. JPL Wealth Management LLC purchased a new position in shares of Tractor Supply in the 3rd quarter valued at about $28,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth about $35,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Key Tractor Supply News

Here are the key news stories impacting Tractor Supply this week:

Tractor Supply Company Profile

(Get Free Report)

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.

Further Reading

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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