Wedbush Reiterates Outperform Rating for Tractor Supply Company (TSCO)
Tractor Supply Company (NASDAQ:TSCO)‘s stock had its “outperform” rating restated by Wedbush in a report issued on Tuesday. They presently have a $72.00 price objective on the specialty retailer’s stock, up from their previous price objective of $65.00. Wedbush’s price objective would suggest a potential upside of 15.77% from the company’s previous close. Wedbush also issued estimates for Tractor Supply’s Q2 2018 earnings at $1.36 EPS, Q3 2018 earnings at $0.74 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.58 EPS, FY2019 earnings at $3.99 EPS and FY2020 earnings at $4.45 EPS.
A number of other research analysts have also weighed in on TSCO. UBS AG lowered Tractor Supply from a “buy” rating to a “neutral” rating and increased their price target for the stock from $62.00 to $67.00 in a research note on Monday. Piper Jaffray Companies reissued a “hold” rating and set a $57.00 price target on shares of Tractor Supply in a research note on Friday, September 29th. BMO Capital Markets increased their price target on Tractor Supply from $58.00 to $61.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 27th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Tractor Supply in a research note on Thursday, July 27th. Finally, Zacks Investment Research raised Tractor Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Sixteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Tractor Supply currently has an average rating of “Hold” and an average price target of $70.35.
Shares of Tractor Supply (NASDAQ TSCO) opened at 61.42 on Tuesday. The firm has a market cap of $7.78 billion, a PE ratio of 18.56 and a beta of 1.30. The firm’s 50-day moving average price is $60.12 and its 200 day moving average price is $59.00. Tractor Supply has a 1-year low of $49.87 and a 1-year high of $78.25.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.02). Tractor Supply had a return on equity of 30.56% and a net margin of 6.16%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company earned $1.16 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Tractor Supply will post $3.25 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in TSCO. Waldron LP acquired a new stake in shares of Tractor Supply during the first quarter valued at about $269,000. UBS Asset Management Americas Inc. grew its stake in shares of Tractor Supply by 10.5% during the first quarter. UBS Asset Management Americas Inc. now owns 356,264 shares of the specialty retailer’s stock valued at $24,572,000 after acquiring an additional 33,768 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Tractor Supply by 1.3% during the first quarter. Ameriprise Financial Inc. now owns 54,944 shares of the specialty retailer’s stock valued at $3,791,000 after acquiring an additional 718 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Tractor Supply during the first quarter valued at about $283,000. Finally, Mason Street Advisors LLC grew its stake in shares of Tractor Supply by 0.6% during the first quarter. Mason Street Advisors LLC now owns 18,065 shares of the specialty retailer’s stock valued at $1,246,000 after acquiring an additional 111 shares in the last quarter. Institutional investors own 91.99% 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 is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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