Wolfe Research Begins Coverage on Tractor Supply (NASDAQ:TSCO)

Wolfe Research assumed coverage on shares of Tractor Supply (NASDAQ:TSCO) in a research note published on Tuesday, TipRanks reports. The firm issued a hold rating and a $95.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts also recently commented on TSCO. BidaskClub downgraded Tractor Supply from a buy rating to a hold rating in a report on Saturday, September 14th. Guggenheim reiterated a buy rating and issued a $110.00 price objective (down previously from $120.00) on shares of Tractor Supply in a report on Friday, September 20th. Piper Jaffray Companies upped their price objective on Tractor Supply from $114.00 to $125.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Wedbush reiterated an outperform rating and issued a $105.00 price objective (down previously from $115.00) on shares of Tractor Supply in a report on Tuesday, September 24th. Finally, Morgan Stanley increased their price target on Tractor Supply from $112.00 to $115.00 and gave the stock an equal weight rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $107.43.

NASDAQ TSCO traded up $1.19 on Tuesday, reaching $94.31. The company had a trading volume of 1,385,839 shares, compared to its average volume of 1,367,034. The stock’s 50 day moving average is $96.40 and its 200-day moving average is $102.63. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.76 and a beta of 1.06. The company has a quick ratio of 0.16, a current ratio of 1.52 and a debt-to-equity ratio of 1.57. Tractor Supply has a 52 week low of $78.67 and a 52 week high of $114.25.



Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.69 EPS. As a group, analysts forecast that Tractor Supply will post 4.74 EPS for the current year.

In related news, SVP Chad Michael Frazell sold 17,857 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $110.04, for a total transaction of $1,964,984.28. Following the completion of the transaction, the senior vice president now directly owns 31,004 shares in the company, valued at $3,411,680.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of TSCO. Nuveen Asset Management LLC grew its holdings in shares of Tractor Supply by 417.4% during the second quarter. Nuveen Asset Management LLC now owns 958,613 shares of the specialty retailer’s stock worth $104,297,000 after buying an additional 773,332 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Tractor Supply by 10,928.8% during the second quarter. Thoroughbred Financial Services LLC now owns 725,476 shares of the specialty retailer’s stock worth $72,548,000 after buying an additional 718,898 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Tractor Supply by 56.6% during the second quarter. Invesco Ltd. now owns 1,438,362 shares of the specialty retailer’s stock worth $156,492,000 after buying an additional 520,058 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Tractor Supply during the second quarter worth about $32,607,000. Finally, Nordea Investment Management AB grew its holdings in shares of Tractor Supply by 27.7% during the first quarter. Nordea Investment Management AB now owns 971,687 shares of the specialty retailer’s stock worth $94,992,000 after buying an additional 210,783 shares in the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.

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.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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