Tractor Supply (NASDAQ:TSCO) Coverage Initiated at Wolfe Research

Wolfe Research initiated coverage on shares of Tractor Supply (NASDAQ:TSCO) in a research note published on Tuesday, TipRanks reports. The brokerage issued a hold rating and a $95.00 target price on the specialty retailer’s stock.

Other research analysts have also recently issued research reports about the stock. Northcoast Research raised shares of Tractor Supply from a neutral rating to a buy rating and set a $110.00 target price on the stock in a research report on Wednesday, October 2nd. Piper Jaffray Companies upped their target price on shares of Tractor Supply from $114.00 to $125.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Royal Bank of Canada set a $123.00 target price on shares of Tractor Supply and gave the company a buy rating in a research report on Friday, July 26th. Guggenheim reaffirmed a buy rating and issued a $110.00 target price (down previously from $120.00) on shares of Tractor Supply in a research report on Friday, September 20th. Finally, Telsey Advisory Group decreased their target price on shares of Tractor Supply from $113.00 to $108.00 and set a market perform rating on the stock in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $107.43.

NASDAQ TSCO opened at $94.31 on Tuesday. The firm’s 50-day moving average is $96.26 and its two-hundred day moving average is $102.64. Tractor Supply has a 12 month low of $78.67 and a 12 month high of $114.25. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.52 and a quick ratio of 0.16. The stock has a market capitalization of $10.98 billion, a P/E ratio of 21.88, a PEG ratio of 1.76 and a beta of 1.06.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, July 25th. The specialty retailer reported $1.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.01). Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company earned $1.69 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Tractor Supply will post 4.74 EPS for the current year.

In other news, SVP Chad Michael Frazell sold 17,857 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $110.04, for a total transaction of $1,964,984.28. Following the sale, the senior vice president now owns 31,004 shares of the company’s stock, valued at $3,411,680.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of TSCO. OppenheimerFunds Inc. lifted its position in shares of Tractor Supply by 34.4% during the first quarter. OppenheimerFunds Inc. now owns 253,770 shares of the specialty retailer’s stock worth $24,809,000 after purchasing an additional 64,916 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Tractor Supply by 23.8% in the first quarter. Westfield Capital Management Co. LP now owns 519,319 shares of the specialty retailer’s stock valued at $50,769,000 after acquiring an additional 99,901 shares in the last quarter. Summit Global Investments raised its holdings in Tractor Supply by 1.4% in the first quarter. Summit Global Investments now owns 15,710 shares of the specialty retailer’s stock valued at $1,536,000 after acquiring an additional 215 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Tractor Supply by 11.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 233,761 shares of the specialty retailer’s stock valued at $22,852,000 after acquiring an additional 24,644 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in Tractor Supply in the first quarter valued at approximately $146,000. 82.76% of the stock is currently owned by institutional investors and hedge funds.

About Tractor Supply

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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