Tractor Supply Company (TSCO) Given “Hold” Rating at Piper Jaffray Companies
Piper Jaffray Companies reissued their hold rating on shares of Tractor Supply Company (NASDAQ:TSCO) in a research report released on Friday. The firm currently has a $57.00 price objective on the specialty retailer’s stock.
Other equities research analysts have also issued reports about the stock. BMO Capital Markets set a $57.00 target price on shares of Tractor Supply and gave the stock a hold rating in a report on Tuesday, July 11th. Deutsche Bank AG reaffirmed a hold rating and set a $54.00 price target (down previously from $69.00) on shares of Tractor Supply in a research note on Thursday, July 27th. Bank of America Corporation reiterated a buy rating and set a $69.00 price target on shares of Tractor Supply in a report on Tuesday, September 5th. Telsey Advisory Group cut their price target on shares of Tractor Supply from $83.00 to $62.00 and set an outperform rating on the stock in a report on Thursday, July 6th. Finally, Credit Suisse Group reiterated a hold rating and set a $54.00 price target on shares of Tractor Supply in a report on Wednesday, September 13th. Sixteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Tractor Supply presently has an average rating of Hold and a consensus price target of $71.24.
Shares of Tractor Supply (NASDAQ:TSCO) traded down 0.84% during trading on Friday, reaching $62.76. 1,036,828 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $57.82 and its 200-day moving average price is $59.67. Tractor Supply has a 52-week low of $49.87 and a 52-week high of $78.25. The stock has a market cap of $7.95 billion, a PE ratio of 18.97 and a beta of 1.30.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.02). Tractor Supply had a return on equity of 30.56% and a net margin of 6.16%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Tractor Supply will post $3.25 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were paid a $0.27 dividend. The ex-dividend date was Thursday, August 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. Tractor Supply’s dividend payout ratio is presently 32.53%.
A number of hedge funds have recently bought and sold shares of TSCO. BlackRock Inc. boosted its holdings in Tractor Supply by 2,934.4% in the first quarter. BlackRock Inc. now owns 7,835,590 shares of the specialty retailer’s stock worth $540,419,000 after acquiring an additional 7,577,362 shares in the last quarter. Ameriprise Financial Inc. grew 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 valued at $229,319,000 after acquiring an additional 4,175,224 shares during the period. Janus Henderson Group PLC grew 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 valued at $115,813,000 after acquiring an additional 1,797,802 shares during the period. Renaissance Technologies LLC acquired a new stake in Tractor Supply in the first quarter valued at approximately $102,767,000. Finally, Morgan Stanley grew its stake in Tractor Supply by 214.1% in the first quarter. Morgan Stanley now owns 1,422,302 shares of the specialty retailer’s stock valued at $98,098,000 after acquiring an additional 969,544 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.
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.
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