Tractor Supply Co. (TSCO) Earns Overweight Rating from Barclays PLC
Tractor Supply Co. (NASDAQ:TSCO)‘s stock had its “overweight” rating restated by equities researchers at Barclays PLC in a report issued on Friday. They currently have a $90.00 price target on the stock. Barclays PLC’s target price points to a potential upside of 33.63% from the company’s current price.
TSCO has been the topic of a number of other research reports. Piper Jaffray Cos. reissued an “overweight” rating and set a $103.00 price objective (down previously from $105.00) on shares of Tractor Supply in a research report on Friday, July 1st. Wedbush reissued an “outperform” rating and set a $96.00 price objective on shares of Tractor Supply in a research report on Friday, August 12th. Credit Suisse Group AG cut shares of Tractor Supply from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $96.00 to $72.00 in a research report on Thursday, September 8th. Cowen and Company assumed coverage on shares of Tractor Supply in a research report on Thursday, September 8th. They set an “overweight” rating on the stock. Finally, Zacks Investment Research raised shares of Tractor Supply from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.37.
Shares of Tractor Supply (NASDAQ:TSCO) traded down 1.30% during trading on Friday, reaching $67.35. The company’s stock had a trading volume of 3,242,439 shares. The stock’s 50 day moving average price is $76.90 and its 200-day moving average price is $88.17. The firm has a market cap of $9.00 billion, a PE ratio of 21.60 and a beta of 1.04. Tractor Supply has a 12 month low of $66.77 and a 12 month high of $97.25.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.16. Tractor Supply had a return on equity of 30.30% and a net margin of 6.57%. The firm earned $1.85 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business posted $1.12 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Tractor Supply will post $3.24 EPS for the current year.
Several large investors have recently modified their holdings of TSCO. William Blair Investment Management LLC raised its stake in shares of Tractor Supply by 54.3% in the second quarter. William Blair Investment Management LLC now owns 2,150,617 shares of the company’s stock valued at $196,093,000 after buying an additional 756,716 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Tractor Supply by 58.8% in the second quarter. Alliancebernstein L.P. now owns 1,980,756 shares of the company’s stock valued at $180,605,000 after buying an additional 733,533 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Tractor Supply by 617.1% in the second quarter. Schroder Investment Management Group now owns 680,963 shares of the company’s stock valued at $62,090,000 after buying an additional 586,008 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Tractor Supply during the second quarter valued at about $48,979,000. Finally, Bank of Montreal Can bought a new stake in shares of Tractor Supply during the second quarter valued at about $47,125,000. Institutional investors own 91.58% of the company’s stock.
Tractor Supply Company Profile
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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