Robert W. Baird Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $38.00

Tractor Supply (NASDAQ:TSCO) had its target price dropped by stock analysts at Robert W. Baird from $50.00 to $38.00 in a report released on Monday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Robert W. Baird’s target price points to a potential upside of 28.21% from the stock’s current price.

Other analysts have also recently issued reports about the company. Wolfe Research set a $34.00 price objective on Tractor Supply in a research report on Thursday, July 16th. Wells Fargo & Company dropped their target price on Tractor Supply from $47.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. The Goldman Sachs Group cut their price target on Tractor Supply from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. TD Cowen reaffirmed a “hold” rating on shares of Tractor Supply in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Tractor Supply from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.88.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $29.64 on Monday. Tractor Supply has a one year low of $28.36 and a one year high of $63.99. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 6.57 and a beta of 0.46. The company has a 50-day simple moving average of $30.64 and a 200-day simple moving average of $41.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.16 and a current ratio of 1.38.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Tractor Supply had a return on equity of 42.58% and a net margin of 6.91%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. On average, analysts predict that Tractor Supply will post 2.08 EPS for the current year.

Institutional Investors Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in shares of Tractor Supply by 33.8% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 14,350 shares of the specialty retailer’s stock worth $454,000 after purchasing an additional 3,625 shares during the period. Greenleaf Trust lifted its stake in shares of Tractor Supply by 20.4% in the second quarter. Greenleaf Trust now owns 14,863 shares of the specialty retailer’s stock valued at $470,000 after purchasing an additional 2,519 shares during the period. Guidance Capital Inc. lifted its stake in shares of Tractor Supply by 12.8% in the second quarter. Guidance Capital Inc. now owns 25,656 shares of the specialty retailer’s stock valued at $796,000 after purchasing an additional 2,909 shares during the period. IFP Advisors Inc lifted its stake in shares of Tractor Supply by 423.8% in the second quarter. IFP Advisors Inc now owns 36,280 shares of the specialty retailer’s stock valued at $1,147,000 after purchasing an additional 29,354 shares during the period. Finally, Gateway Investment Advisers LLC boosted its holdings in Tractor Supply by 89.0% during the second quarter. Gateway Investment Advisers LLC now owns 9,918 shares of the specialty retailer’s stock worth $314,000 after buying an additional 4,671 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Company Profile

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.