BMO Capital Markets Increases Tractor Supply Company (TSCO) Price Target to $58.00

Tractor Supply Company (NASDAQ:TSCO) had its price objective increased by BMO Capital Markets from $57.00 to $58.00 in a note issued to investors on Friday. The firm presently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ price target indicates a potential upside of 2.44% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Credit Suisse Group set a $54.00 price target on Tractor Supply and gave the company a “hold” rating in a research report on Thursday. Deutsche Bank AG reiterated a “hold” rating and issued a $54.00 price target (down from $69.00) on shares of Tractor Supply in a research report on Thursday. Guggenheim reiterated a “buy” rating and issued a $70.00 price target (down from $80.00) on shares of Tractor Supply in a research report on Thursday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Tractor Supply in a research report on Thursday. Finally, Piper Jaffray Companies set a $55.00 price target on Tractor Supply and gave the company a “hold” rating in a research report on Tuesday, July 25th. Nineteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Tractor Supply has a consensus rating of “Hold” and a consensus target price of $74.91.

Shares of Tractor Supply (NASDAQ:TSCO) opened at 56.62 on Friday. The company has a market capitalization of $7.26 billion, a PE ratio of 17.11 and a beta of 1.32. The firm has a 50-day moving average price of $53.42 and a 200-day moving average price of $63.89. Tractor Supply has a 1-year low of $49.87 and a 1-year high of $92.11.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by $0.02. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the company earned $1.16 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Equities analysts anticipate that Tractor Supply will post $3.30 earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Cleararc Capital Inc. raised its position in Tractor Supply by 0.9% in the first quarter. Cleararc Capital Inc. now owns 3,199 shares of the specialty retailer’s stock valued at $221,000 after buying an additional 29 shares during the last quarter. Fernwood Investment Management LLC raised its position in Tractor Supply by 0.6% in the first quarter. Fernwood Investment Management LLC now owns 10,840 shares of the specialty retailer’s stock valued at $748,000 after buying an additional 70 shares during the last quarter. Mount Vernon Associates Inc. MD raised its position in Tractor Supply by 0.4% in the second quarter. Mount Vernon Associates Inc. MD now owns 17,380 shares of the specialty retailer’s stock valued at $942,000 after buying an additional 75 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Tractor Supply by 3.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,497 shares of the specialty retailer’s stock valued at $172,000 after buying an additional 91 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC raised its position in Tractor Supply by 3.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,065 shares of the specialty retailer’s stock valued at $211,000 after buying an additional 100 shares during the last quarter. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Tractor Supply Company Profile

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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