Analysts Set Tractor Supply Company (TSCO) Target Price at $69.42
Shares of Tractor Supply Company (NASDAQ:TSCO) have earned an average recommendation of “Hold” from the twenty-five analysts that are covering the firm, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $69.42.
A number of research analysts have recently issued reports on the company. Robert W. Baird reaffirmed a “buy” rating and set a $66.00 price target on shares of Tractor Supply in a report on Wednesday, October 4th. Wedbush reaffirmed an “outperform” rating and set a $72.00 price target (up from $65.00) on shares of Tractor Supply in a report on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $57.00 price target on shares of Tractor Supply in a report on Friday, September 29th. UBS AG downgraded Tractor Supply from a “buy” rating to a “neutral” rating and upped their price target for the company from $62.00 to $67.00 in a report on Monday, October 2nd. Finally, BMO Capital Markets upped their price target on Tractor Supply from $58.00 to $61.00 and gave the company a “market perform” rating in a report on Wednesday, September 27th.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Tractor Supply by 2,934.4% during the first quarter. BlackRock Inc. now owns 7,835,590 shares of the specialty retailer’s stock worth $540,419,000 after purchasing an additional 7,577,362 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Tractor Supply by 7,599.1% during the second quarter. Ameriprise Financial Inc. now owns 4,230,168 shares of the specialty retailer’s stock worth $229,319,000 after purchasing an additional 4,175,224 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Tractor Supply by 531.0% during the second quarter. Janus Henderson Group PLC now owns 2,136,401 shares of the specialty retailer’s stock worth $115,813,000 after purchasing an additional 1,797,802 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Tractor Supply during the first quarter worth about $102,767,000. Finally, Morgan Stanley grew its position in shares of Tractor Supply by 214.1% during the first quarter. Morgan Stanley now owns 1,422,302 shares of the specialty retailer’s stock worth $98,098,000 after purchasing an additional 969,544 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
Shares of Tractor Supply (NASDAQ:TSCO) traded up 0.13% during trading on Friday, reaching $60.30. The company’s stock had a trading volume of 1,278,204 shares. The stock’s 50 day moving average is $60.70 and its 200 day moving average is $58.75. The firm has a market cap of $7.64 billion, a P/E ratio of 18.22 and a beta of 1.30. Tractor Supply has a one year low of $49.87 and a one year high of $78.25.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.02). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.02 billion. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. On average, equities analysts forecast that Tractor Supply will post $3.25 EPS for the current fiscal year.
About Tractor Supply
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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