Tractor Supply (NASDAQ:TSCO) Receives “Buy” Rating from Guggenheim

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Guggenheim reissued their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report report published on Friday, September 20th, The Fly reports. Guggenheim currently has a $110.00 price target on the specialty retailer’s stock, down from their prior price target of $120.00.

A number of other equities research analysts have also recently weighed in on TSCO. Telsey Advisory Group cut their price target on Tractor Supply from $113.00 to $108.00 and set a market perform rating on the stock in a report on Friday, August 23rd. Goldman Sachs Group started coverage on shares of Tractor Supply in a research report on Thursday, July 11th. They set a buy rating and a $122.00 price objective on the stock. Piper Jaffray Companies upped their price target on Tractor Supply from $114.00 to $125.00 and gave the stock an overweight rating in a research note on Tuesday, July 16th. Northcoast Research lowered shares of Tractor Supply from a buy rating to a neutral rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley increased their price target on shares of Tractor Supply from $112.00 to $115.00 and gave the stock an equal weight rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $107.43.

Shares of Tractor Supply stock traded up $1.19 during trading hours on Friday, hitting $94.31. 1,385,839 shares of the company’s stock traded hands, compared to its average volume of 1,798,487. The company has a market cap of $11.09 billion, a PE ratio of 21.88, a PEG ratio of 1.77 and a beta of 1.06. Tractor Supply has a twelve month low of $78.67 and a twelve month high of $114.25. The stock has a 50 day simple moving average of $96.26 and a 200-day simple moving average of $102.64. The company has a quick ratio of 0.16, a current ratio of 1.52 and a debt-to-equity ratio of 1.57.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly 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). The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Tractor Supply had a return on equity of 36.12% and a net margin of 6.71%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.69 earnings per share. As a group, equities research analysts predict that Tractor Supply will post 4.74 EPS for the current year.

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

Several hedge funds have recently bought and sold shares of TSCO. Nuveen Asset Management LLC raised its stake in shares of Tractor Supply by 417.4% during the second quarter. Nuveen Asset Management LLC now owns 958,613 shares of the specialty retailer’s stock worth $104,297,000 after acquiring an additional 773,332 shares in the last quarter. Thoroughbred Financial Services LLC boosted its stake in Tractor Supply by 10,928.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 725,476 shares of the specialty retailer’s stock worth $72,548,000 after purchasing an additional 718,898 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Tractor Supply in the 1st quarter worth about $63,192,000. Invesco Ltd. raised its position in Tractor Supply by 56.6% in the 2nd quarter. Invesco Ltd. now owns 1,438,362 shares of the specialty retailer’s stock worth $156,492,000 after buying an additional 520,058 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Tractor Supply in the 2nd quarter worth about $32,607,000. 82.76% of the stock is currently owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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