Tractor Supply Co. (TSCO) Reaches New 52-Week Low on Analyst Downgrade
Tractor Supply Co. (NASDAQ:TSCO) hit a new 52-week low on Monday after Deutsche Bank AG lowered their price target on the stock from $76.00 to $72.00. Deutsche Bank AG currently has a buy rating on the stock. Tractor Supply traded as low as $66.43 and last traded at $66.87, with a volume of 1,348,040 shares traded. The stock had previously closed at $67.35.
TSCO has been the topic of a number of other research reports. Piper Jaffray Cos. restated 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 restated 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 lowered Tractor Supply from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $96.00 to $72.00 in a research report on Thursday, September 8th. Cowen and Company started coverage on Tractor Supply in a research report on Thursday, September 8th. They issued an “overweight” rating on the stock. Finally, Zacks Investment Research upgraded Tractor Supply from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $88.37.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC increased its position in 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 worth $196,093,000 after buying an additional 756,716 shares during the period. Alliancebernstein L.P. increased its position in Tractor Supply by 58.8% in the second quarter. Alliancebernstein L.P. now owns 1,980,756 shares of the company’s stock worth $180,605,000 after buying an additional 733,533 shares during the period. Schroder Investment Management Group increased its position in Tractor Supply by 617.1% in the second quarter. Schroder Investment Management Group now owns 680,963 shares of the company’s stock worth $62,090,000 after buying an additional 586,008 shares during the period. Emerald Acquisition Ltd. purchased a new position in Tractor Supply during the second quarter worth $48,979,000. Finally, Bank of Montreal Can purchased a new position in Tractor Supply during the second quarter worth $47,125,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.16 earnings per share (EPS) 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 company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the business posted $1.12 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year.
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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