Tractor Supply Company (TSCO) Shares Gap Down Following Analyst Downgrade

Tractor Supply Company (NASDAQ:TSCO) shares gapped down prior to trading on Thursday after Deutsche Bank AG lowered their price target on the stock from $54.00 to $51.00. The stock had previously closed at $60.94, but opened at $57.92. Deutsche Bank AG currently has a hold rating on the stock. Tractor Supply shares last traded at $57.35, with a volume of 7,657,785 shares traded.

Other research analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Tractor Supply in a research report on Thursday. Robert W. Baird set a $66.00 target price on Tractor Supply and gave the company a “buy” rating in a research report on Thursday. UBS Group AG lowered Tractor Supply from a “buy” rating to a “neutral” rating and boosted their target price for the company from $62.00 to $67.00 in a research report on Monday, October 2nd. Guggenheim restated a “buy” rating and set a $70.00 target price (down previously from $80.00) on shares of Tractor Supply in a research report on Thursday, July 27th. Finally, BidaskClub upgraded Tractor Supply from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.68.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Tractor Supply by 1.4% in the second quarter. Vanguard Group Inc. now owns 12,519,767 shares of the specialty retailer’s stock worth $678,696,000 after buying an additional 170,986 shares in the last quarter. BlackRock Inc. raised its stake in Tractor Supply by 1.7% in the second quarter. BlackRock Inc. now owns 7,968,825 shares of the specialty retailer’s stock worth $431,989,000 after buying an additional 133,235 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Tractor Supply by 7,599.1% in the second quarter. Ameriprise Financial Inc. now owns 4,230,168 shares of the specialty retailer’s stock worth $229,319,000 after buying an additional 4,175,224 shares in the last quarter. Fiera Capital Corp raised its stake in Tractor Supply by 14.9% in the second quarter. Fiera Capital Corp now owns 3,700,846 shares of the specialty retailer’s stock worth $200,623,000 after buying an additional 480,717 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Tractor Supply by 531.0% in the second quarter. Janus Henderson Group PLC now owns 2,136,401 shares of the specialty retailer’s stock worth $115,813,000 after buying an additional 1,797,802 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

The firm has a market capitalization of $7.27 billion, a P/E ratio of 17.33 and a beta of 1.30. The company has a 50-day moving average price of $60.81 and a 200 day moving average price of $57.96.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. On average, analysts forecast that Tractor Supply Company will post $3.25 EPS for the current fiscal year.

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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.

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