Wells Fargo & Co Increases Tractor Supply (TSCO) Price Target to $102.00

Tractor Supply (NASDAQ:TSCO) had its target price hoisted by equities researchers at Wells Fargo & Co from $98.00 to $102.00 in a note issued to investors on Friday. The firm presently has an “outperform” rating on the specialty retailer’s stock. Wells Fargo & Co’s price target points to a potential upside of 12.29% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of Tractor Supply from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research raised shares of Tractor Supply from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Thursday, June 28th. Stephens set a $93.00 target price on shares of Tractor Supply and gave the stock a “buy” rating in a research report on Friday, July 27th. ValuEngine raised shares of Tractor Supply from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Finally, Morgan Stanley boosted their target price on shares of Tractor Supply from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $87.41.

TSCO opened at $90.84 on Friday. The stock has a market capitalization of $10.85 billion, a PE ratio of 27.28, a P/E/G ratio of 1.63 and a beta of 1.40. Tractor Supply has a 1-year low of $56.27 and a 1-year high of $92.45. The company has a quick ratio of 0.19, a current ratio of 1.99 and a debt-to-equity ratio of 0.39.



Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. On average, equities analysts expect that Tractor Supply will post 4.26 EPS for the current year.

In related news, CFO Kurt D. Barton sold 6,156 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $84.50, for a total transaction of $520,182.00. Following the completion of the sale, the chief financial officer now owns 32,327 shares of the company’s stock, valued at approximately $2,731,631.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory A. Sandfort sold 140,709 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $90.28, for a total transaction of $12,703,208.52. Following the sale, the chief executive officer now directly owns 118,845 shares of the company’s stock, valued at approximately $10,729,326.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,530 shares of company stock valued at $18,348,570. Insiders own 1.60% of the company’s stock.

Several large investors have recently made changes to their positions in TSCO. Cubist Systematic Strategies LLC boosted its stake in Tractor Supply by 74.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 12,515 shares of the specialty retailer’s stock valued at $957,000 after purchasing an additional 5,361 shares during the period. Swiss National Bank boosted its stake in Tractor Supply by 2.7% during the 2nd quarter. Swiss National Bank now owns 415,400 shares of the specialty retailer’s stock valued at $31,774,000 after purchasing an additional 11,000 shares during the period. Ridgewood Investments LLC boosted its stake in Tractor Supply by 17.2% during the 2nd quarter. Ridgewood Investments LLC now owns 11,768 shares of the specialty retailer’s stock valued at $900,000 after purchasing an additional 1,725 shares during the period. Sentry Investment Management LLC acquired a new position in Tractor Supply during the 2nd quarter valued at about $665,000. Finally, Bank of America Corp DE boosted its stake in Tractor Supply by 0.5% during the 2nd quarter. Bank of America Corp DE now owns 546,086 shares of the specialty retailer’s stock valued at $41,771,000 after purchasing an additional 2,625 shares during the period. 81.89% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Tariff

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

Receive News & Ratings for Tractor Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tractor Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply