Wells Fargo & Company Boosts Tractor Supply (NASDAQ:TSCO) Price Target to $170.00

Tractor Supply (NASDAQ:TSCO) had its target price upped by Wells Fargo & Company from $165.00 to $170.00 in a research report sent to investors on Thursday morning, The Fly reports. The firm currently has an overweight rating on the specialty retailer’s stock.

TSCO has been the subject of a number of other research reports. Barclays started coverage on Tractor Supply in a research note on Monday, July 27th. They issued an overweight rating and a $155.00 price objective for the company. Robert W. Baird increased their price target on shares of Tractor Supply from $130.00 to $162.00 and gave the company an outperform rating in a research report on Monday, July 20th. Raymond James lifted their price objective on shares of Tractor Supply from $135.00 to $170.00 and gave the stock a strong-buy rating in a research report on Friday, July 24th. Oppenheimer downgraded shares of Tractor Supply from an outperform rating to a market perform rating and set a $150.00 target price for the company. in a research report on Tuesday, July 21st. Finally, DA Davidson started coverage on shares of Tractor Supply in a report on Friday, August 14th. They issued a neutral rating and a $162.00 price target on the stock. Twenty-one research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $136.74.

Tractor Supply stock opened at $153.09 on Thursday. Tractor Supply has a fifty-two week low of $63.89 and a fifty-two week high of $157.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.62 and a current ratio of 1.40. The firm’s 50-day simple moving average is $143.12 and its 200 day simple moving average is $127.19. The stock has a market cap of $17.79 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.01.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, July 23rd. The specialty retailer reported $2.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.28. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 45.25%. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 EPS. As a group, analysts predict that Tractor Supply will post 6.29 EPS for the current fiscal year.

In other news, EVP Benjamin F. Parrish, Jr. sold 120,619 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $148.10, for a total transaction of $17,863,673.90. Following the completion of the transaction, the executive vice president now directly owns 67,262 shares in the company, valued at approximately $9,961,502.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 11,311 shares of the company’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $155.00, for a total transaction of $1,753,205.00. Following the completion of the transaction, the executive vice president now directly owns 17,485 shares in the company, valued at approximately $2,710,175. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,825 shares of company stock worth $25,257,904. Insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in TSCO. Waddell & Reed Financial Inc. boosted its position in shares of Tractor Supply by 100.4% during the 1st quarter. Waddell & Reed Financial Inc. now owns 3,493,123 shares of the specialty retailer’s stock valued at $295,344,000 after acquiring an additional 1,750,004 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Tractor Supply by 129.4% in the second quarter. Nordea Investment Management AB now owns 1,552,180 shares of the specialty retailer’s stock worth $205,632,000 after purchasing an additional 875,695 shares during the last quarter. SPF Beheer BV raised its stake in Tractor Supply by 53.5% in the first quarter. SPF Beheer BV now owns 1,149,160 shares of the specialty retailer’s stock valued at $97,161,000 after purchasing an additional 400,610 shares in the last quarter. Glenmede Trust Co. NA lifted its position in Tractor Supply by 321.2% during the second quarter. Glenmede Trust Co. NA now owns 413,756 shares of the specialty retailer’s stock valued at $54,527,000 after purchasing an additional 315,526 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Tractor Supply in the 2nd quarter worth approximately $33,417,000. Institutional investors and hedge funds own 84.91% of the company’s stock.

Tractor Supply Company Profile

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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