Tractor Supply (NASDAQ:TSCO) had its target price lifted by stock analysts at Wells Fargo & Co from $72.00 to $86.00 in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the specialty retailer’s stock. Wells Fargo & Co’s target price suggests a potential upside of 10.33% from the stock’s current price.
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 also recently weighed in on TSCO. Sanford C. Bernstein restated a “buy” rating on shares of Tractor Supply in a report on Tuesday, February 27th. Moffett Nathanson upgraded shares of Tractor Supply from a “neutral” rating to a “buy” rating in a report on Monday, March 5th. Zacks Investment Research downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. BidaskClub downgraded shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Saturday, March 10th. Finally, ValuEngine downgraded shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. Tractor Supply presently has a consensus rating of “Buy” and an average price target of $74.05.
Shares of TSCO stock opened at $77.95 on Wednesday. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.42 and a beta of 1.28. Tractor Supply has a 52 week low of $49.87 and a 52 week high of $82.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.22 and a current ratio of 1.96.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 26th. The specialty retailer reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Tractor Supply had a net margin of 5.88% and a return on equity of 31.99%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. equities analysts expect that Tractor Supply will post 4.08 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Mount Yale Investment Advisors LLC bought a new position in Tractor Supply during the 1st quarter valued at about $894,000. Nicola Wealth Management LTD. bought a new position in Tractor Supply during the 1st quarter valued at about $5,042,000. Diversified Trust Co bought a new position in Tractor Supply during the 1st quarter valued at about $223,000. Suntrust Banks Inc. grew its holdings in Tractor Supply by 25.1% during the 1st quarter. Suntrust Banks Inc. now owns 4,739 shares of the specialty retailer’s stock valued at $297,000 after purchasing an additional 952 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in Tractor Supply in the 1st quarter worth about $5,042,000. Institutional investors own 80.62% of the company’s stock.
About Tractor Supply
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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