Tractor Supply (NASDAQ:TSCO) had its price target raised by research analysts at Wells Fargo & Co from $72.00 to $86.00 in a research note issued on Wednesday, MarketBeat reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 10.45% from the company’s previous close.
The analysts wrote, “We are raising our Q2 comp/EPS estimates by +100bps/2c to +4%/$1.62 (vs. +3%/$1.59 Street) reflecting favorable underlying retail trends, improving Q2 weather, and increased confidence in NT execution. With oil prices appreciating, we view TSCO among the few retail beneficiaries with commodity pass-through and exposure to improving markets in TX/OK (14% of stores). We believe these tailwinds, coupled with the benefits of TSCO’s Omnichannel and loyalty initiatives (which are only beginning to take hold) set up potential for multi-year comp improvement. We initiated coverage of TSCO on 4/23 (Take Me Home, Country Roads) in the midst of challenging investor sentiment and ample skepticism around comp acceleration and a FY19 margin inflection.””
A number of other research firms have also recently issued reports on TSCO. Oppenheimer upgraded Tractor Supply from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Friday, April 27th. Wedbush raised their target price on Tractor Supply from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, April 27th. BidaskClub upgraded Tractor Supply from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Royal Bank of Canada cut their target price on Tractor Supply to $64.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 24th. Finally, Telsey Advisory Group cut their target price on Tractor Supply from $76.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, April 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.19.
Shares of Tractor Supply opened at $77.86 on Wednesday, according to MarketBeat. Tractor Supply has a 12-month low of $49.87 and a 12-month high of $82.68. The firm has a market cap of $9.52 billion, a P/E ratio of 23.38, a PEG ratio of 1.42 and a beta of 1.28. The company has a current ratio of 1.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.54.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 26th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Tractor Supply had a return on equity of 31.99% and a net margin of 5.88%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. analysts predict that Tractor Supply will post 4.08 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of TSCO. Centaurus Financial Inc. acquired a new position in Tractor Supply during the first quarter worth about $100,000. Kennedy Capital Management Inc. acquired a new position in Tractor Supply during the fourth quarter worth about $204,000. D.B. Root & Company LLC acquired a new position in Tractor Supply during the first quarter worth about $213,000. Diversified Trust Co acquired a new position in Tractor Supply during the first quarter worth about $223,000. Finally, Rampart Investment Management Company LLC grew its holdings in Tractor Supply by 117.0% during the first quarter. Rampart Investment Management Company LLC now owns 3,676 shares of the specialty retailer’s stock worth $232,000 after acquiring an additional 1,982 shares during the period. Institutional investors and hedge funds own 80.62% 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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