Guggenheim Reiterates Buy Rating for Tractor Supply Company (TSCO)

Guggenheim reiterated their buy rating on shares of Tractor Supply Company (NASDAQ:TSCO) in a research note issued to investors on Friday, April 14th. The firm currently has a $85.00 price objective on the specialty retailer’s stock.

Other analysts also recently issued reports about the company. Oppenheimer Holdings Inc. reaffirmed an outperform rating on shares of Tractor Supply Company in a research report on Tuesday, December 20th. Deutsche Bank AG set a $72.00 price target on Tractor Supply Company and gave the company a hold rating in a research report on Friday, December 23rd. Zacks Investment Research raised Tractor Supply Company from a hold rating to a buy rating and set a $85.00 price target for the company in a research report on Tuesday, January 17th. Wedbush raised Tractor Supply Company from a neutral rating to an outperform rating and increased their price target for the company from $65.00 to $85.00 in a research report on Friday, January 13th. Finally, Loop Capital assumed coverage on Tractor Supply Company in a report on Wednesday, January 4th. They set a hold rating and a $79.00 price objective for the company. Eighteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Tractor Supply Company presently has an average rating of Hold and a consensus price target of $82.74.

Shares of Tractor Supply Company (NASDAQ:TSCO) traded down 0.5422% on Friday, hitting $57.6557. The company had a trading volume of 932,425 shares. The company has a market capitalization of $7.41 billion, a P/E ratio of 17.8005 and a beta of 1.24. The firm has a 50-day moving average price of $64.05 and a 200 day moving average price of $70.80. Tractor Supply Company has a 12-month low of $57.42 and a 12-month high of $97.00.

Tractor Supply Company (NASDAQ:TSCO) last issued its quarterly earnings data on Wednesday, April 26th. The specialty retailer reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.57 billion. Tractor Supply Company had a return on equity of 30.29% and a net margin of 6.45%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. Equities analysts expect that Tractor Supply Company will post $3.41 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Monday, May 22nd will be given a dividend of $0.27 per share. This is an increase from Tractor Supply Company’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $1.08 dividend on an annualized basis and a yield of 1.86%. Tractor Supply Company’s dividend payout ratio (DPR) is presently 29.36%.

In other Tractor Supply Company news, CMO Steve K. Barbarick sold 15,014 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $72.59, for a total transaction of $1,089,866.26. Following the sale, the chief marketing officer now owns 65,450 shares in the company, valued at $4,751,015.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its stake in Tractor Supply Company by 3.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,497 shares of the specialty retailer’s stock worth $172,000 after buying an additional 91 shares during the last quarter. Elgethun Capital Management purchased a new stake in Tractor Supply Company during the fourth quarter worth $197,000. Conning Inc. increased its stake in Tractor Supply Company by 1.0% in the third quarter. Conning Inc. now owns 2,990 shares of the specialty retailer’s stock worth $201,000 after buying an additional 30 shares during the last quarter. Dynamic Advisors Solutions LLC increased its stake in Tractor Supply Company by 3.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,065 shares of the specialty retailer’s stock worth $211,000 after buying an additional 100 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in Tractor Supply Company during the first quarter valued at approximately $216,000. Institutional investors and hedge funds own 86.37% of the company’s stock.

About Tractor Supply Company

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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