Wells Fargo & Co reaffirmed their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a report published on Monday morning. They currently have a $102.00 price objective on the specialty retailer’s stock.
“We’re hosting investor meetings with TSCO CEO Greg Sandfort and CFO Wednesday (2/13). Since TSCO’s Q4 print (1/31) shares have recovered, yet the investor debate remains more mixed, with bears citing lack of Q4 profit flow-through (EBIT margin -96bps) despite a +5.7% comp; increasingly tough comparisons in FY19; and 2H weighted FY19 guidance (including Q1 EBIT decline). Bulls, on the other hand, see an achievable FY19 outlook (particularly in 1H), healthy comp trends (starting with ~4% in Q1), and potential EBIT margin inflection as early as Q2.”,” the firm’s analyst commented.
Several other research firms have also recently issued reports on TSCO. Wedbush raised Tractor Supply from a neutral rating to an outperform rating and boosted their target price for the company from $80.00 to $100.00 in a research note on Friday, October 26th. BidaskClub raised Tractor Supply from a hold rating to a buy rating in a research note on Tuesday, November 13th. Zacks Investment Research raised Tractor Supply from a hold rating to a buy rating and set a $101.00 target price on the stock in a research note on Tuesday, December 11th. Deutsche Bank raised Tractor Supply from a hold rating to a buy rating and boosted their target price for the company from $94.00 to $107.00 in a research note on Thursday, December 13th. Finally, Telsey Advisory Group reissued an outperform rating and set a $92.00 target price (up from $85.00) on shares of Tractor Supply in a research note on Saturday, October 27th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Tractor Supply has an average rating of Buy and a consensus target price of $90.20.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 31st. The specialty retailer reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.02. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Tractor Supply had a return on equity of 36.86% and a net margin of 6.73%. As a group, equities analysts expect that Tractor Supply will post 4.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Monday, February 25th will be paid a $0.31 dividend. The ex-dividend date is Friday, February 22nd. This represents a $1.24 annualized dividend and a yield of 1.29%. Tractor Supply’s payout ratio is 28.77%.
A number of hedge funds have recently modified their holdings of TSCO. Bruderman Asset Management LLC purchased a new stake in Tractor Supply in the fourth quarter worth $25,000. Cordasco Financial Network grew its stake in Tractor Supply by 53.6% in the fourth quarter. Cordasco Financial Network now owns 338 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 118 shares during the period. Rational Advisors LLC grew its stake in Tractor Supply by 570.9% in the fourth quarter. Rational Advisors LLC now owns 369 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 314 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in Tractor Supply in the fourth quarter worth $33,000. Finally, Taylor Hoffman Wealth Management purchased a new stake in Tractor Supply in the fourth quarter worth $37,000. 85.07% of the stock is currently owned by 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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