Tractor Supply (TSCO) Price Target Lowered to $65.00 at Deutsche Bank

Tractor Supply (NASDAQ:TSCO) had its target price decreased by analysts at Deutsche Bank from $72.00 to $65.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “hold” rating on the specialty retailer’s stock. Deutsche Bank’s price objective would indicate a potential upside of 8.75% from the stock’s previous close.

TSCO has been the subject of several other research reports. BidaskClub downgraded shares of Tractor Supply from a “hold” rating to a “sell” rating in a research report on Saturday, March 10th. Royal Bank of Canada raised their price objective on shares of Tractor Supply to $74.00 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. Zacks Investment Research downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Wedbush reaffirmed a “hold” rating and set a $69.00 price objective (down previously from $80.00) on shares of Tractor Supply in a research report on Wednesday, February 21st. Finally, Loop Capital reduced their price target on shares of Tractor Supply to $68.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Tractor Supply presently has a consensus rating of “Hold” and a consensus target price of $74.16.

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Shares of TSCO stock opened at $59.77 on Tuesday. The company has a market cap of $7,224.50, a PE ratio of 17.95, a P/E/G ratio of 1.09 and a beta of 1.28. Tractor Supply has a 52 week low of $49.87 and a 52 week high of $82.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.95 and a quick ratio of 0.24.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Wednesday, January 31st. The specialty retailer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. Tractor Supply had a net margin of 5.82% and a return on equity of 30.81%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. sell-side analysts expect that Tractor Supply will post 4.04 earnings per share for the current fiscal year.

In related news, Director Edna Morris sold 1,054 shares of Tractor Supply stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $67.07, for a total value of $70,691.78. Following the completion of the sale, the director now owns 10,949 shares of the company’s stock, valued at approximately $734,349.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of TSCO. JPMorgan Chase & Co. boosted its holdings in Tractor Supply by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 83,259 shares of the specialty retailer’s stock worth $5,255,000 after acquiring an additional 29,738 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tractor Supply by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 546,751 shares of the specialty retailer’s stock worth $34,603,000 after acquiring an additional 33,488 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Tractor Supply by 26.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,319 shares of the specialty retailer’s stock worth $842,000 after acquiring an additional 2,802 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Tractor Supply by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 278,078 shares of the specialty retailer’s stock worth $17,600,000 after acquiring an additional 5,778 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in Tractor Supply during the 3rd quarter worth $259,000. 84.10% of the stock is currently owned by hedge funds and other institutional investors.

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Tractor Supply Company Profile

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm and ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The company operates its retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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