Tractor Supply (NASDAQ:TSCO) PT Lowered to $108.00

Tractor Supply (NASDAQ:TSCO) had its price objective decreased by equities research analysts at Telsey Advisory Group from $113.00 to $108.00 in a research report issued on Friday, Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price target suggests a potential upside of 10.53% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Northcoast Research cut shares of Tractor Supply from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 3rd. Wells Fargo & Co reiterated a “buy” rating and set a $125.00 price objective on shares of Tractor Supply in a research note on Thursday, July 25th. Morgan Stanley lifted their price objective on shares of Tractor Supply from $112.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of Tractor Supply in a research note on Thursday, May 16th. Finally, ValuEngine lowered shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $107.53.

NASDAQ TSCO traded down $3.74 during trading hours on Friday, reaching $97.71. The company’s stock had a trading volume of 89,611 shares, compared to its average volume of 1,279,596. The stock has a market cap of $12.03 billion, a PE ratio of 22.70, a PEG ratio of 1.89 and a beta of 1.10. Tractor Supply has a fifty-two week low of $78.67 and a fifty-two week high of $114.25. The company’s 50-day moving average is $108.04 and its two-hundred day moving average is $101.91. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.16 and a current ratio of 1.52.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data 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 business 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 posted $1.69 earnings per share. Tractor Supply’s revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Tractor Supply will post 4.74 earnings per share for the current fiscal year.

In other Tractor Supply news, SVP Chad Michael Frazell sold 17,857 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 in the company, valued at $3,411,680.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steve K. Barbarick sold 36,108 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $104.10, for a total value of $3,758,842.80. Following the completion of the sale, the chief operating officer now owns 60,258 shares in the company, valued at $6,272,857.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,933 shares of company stock valued at $6,865,486. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Tractor Supply by 2.0% in the 2nd quarter. BlackRock Inc. now owns 9,529,219 shares of the specialty retailer’s stock valued at $1,036,779,000 after acquiring an additional 182,508 shares in the last quarter. Natixis grew its position in Tractor Supply by 51.8% during the 2nd quarter. Natixis now owns 84,431 shares of the specialty retailer’s stock worth $9,186,000 after acquiring an additional 28,799 shares during the last quarter. Chartwell Investment Partners LLC grew its position in Tractor Supply by 23.5% during the 2nd quarter. Chartwell Investment Partners LLC now owns 14,606 shares of the specialty retailer’s stock worth $1,589,000 after acquiring an additional 2,780 shares during the last quarter. Colony Group LLC bought a new stake in Tractor Supply during the 2nd quarter worth $221,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Tractor Supply by 11.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 261,649 shares of the specialty retailer’s stock valued at $28,467,000 after buying an additional 27,888 shares during the last quarter. 83.27% 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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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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