Morgan Stanley Boosts Tractor Supply Company (TSCO) Price Target to $57.00

Tractor Supply Company (NASDAQ:TSCO) had its price target raised by research analysts at Morgan Stanley from $53.00 to $57.00 in a note issued to investors on Thursday. The firm presently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 9.29% from the company’s previous close.

TSCO has been the topic of a number of other reports. Piper Jaffray Companies reissued a “hold” rating and issued a $57.00 price target on shares of Tractor Supply in a report on Friday, September 29th. UBS AG cut Tractor Supply from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $62.00 to $67.00 in a report on Monday, October 2nd. Robert W. Baird reissued a “buy” rating and issued a $66.00 price target on shares of Tractor Supply in a report on Wednesday, October 4th. Wedbush reissued an “outperform” rating and issued a $72.00 price target (up from $65.00) on shares of Tractor Supply in a report on Tuesday, October 3rd. Finally, BMO Capital Markets boosted their price target on Tractor Supply from $58.00 to $61.00 and gave the stock a “market perform” rating in a report on Wednesday, September 27th. Sixteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.05.

Tractor Supply (NASDAQ TSCO) traded up $1.19 during mid-day trading on Thursday, hitting $62.84. The stock had a trading volume of 2,062,100 shares, compared to its average volume of 2,213,674. Tractor Supply has a 12-month low of $49.87 and a 12-month high of $78.25. The company has a current ratio of 2.00, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7,741.04, a PE ratio of 18.29, a P/E/G ratio of 1.34 and a beta of 1.29.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm earned $0.67 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. equities analysts forecast that Tractor Supply will post 3.28 earnings per share for the current year.

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Large investors have recently made changes to their positions in the stock. Global X MANAGEMENT CO LLC increased its position in Tractor Supply by 191.7% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 1,785 shares of the specialty retailer’s stock valued at $113,000 after buying an additional 1,173 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Tractor Supply by 15.4% in the second quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 317 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Tractor Supply in the second quarter valued at about $139,000. Bristlecone Advisors LLC acquired a new position in shares of Tractor Supply in the third quarter valued at about $173,000. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of Tractor Supply by 33.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,325 shares of the specialty retailer’s stock valued at $180,000 after purchasing an additional 828 shares during the period. 92.95% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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