Tractor Supply Company (TSCO) Price Target Raised to $57.00 at Morgan Stanley
Tractor Supply Company (NASDAQ:TSCO) had its price target upped by Morgan Stanley from $53.00 to $57.00 in a research note released on Thursday morning. The brokerage currently has an equal weight rating on the specialty retailer’s stock.
Several other brokerages have also recently weighed in on TSCO. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Tractor Supply in a research note on Thursday, October 26th. Piper Jaffray Companies set a $55.00 target price on Tractor Supply and gave the company a hold rating in a research note on Tuesday, July 25th. BidaskClub raised Tractor Supply from a sell rating to a hold rating in a research note on Wednesday, July 19th. Credit Suisse Group set a $52.00 target price on Tractor Supply and gave the company a hold rating in a research note on Thursday, October 26th. Finally, Robert W. Baird set a $62.00 target price on Tractor Supply and gave the company a buy rating in a research note on Friday, August 25th. Sixteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $68.05.
Tractor Supply (TSCO) traded up $1.46 during trading hours on Thursday, hitting $64.50. The stock had a trading volume of 1,945,290 shares, compared to its average volume of 2,212,425. Tractor Supply has a 12 month low of $49.87 and a 12 month high of $78.25. The company has a market capitalization of $7,950.00, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 2.00.
Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities analysts expect that Tractor Supply will post 3.28 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Monday, November 20th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, November 17th. Tractor Supply’s dividend payout ratio is currently 32.05%.
A number of institutional investors have recently made changes to their positions in the stock. IFM Investors Pty Ltd purchased a new stake in Tractor Supply in the 3rd quarter worth about $259,000. Fieldpoint Private Securities LLC purchased a new stake in Tractor Supply in the 3rd quarter worth about $242,000. Griffin Asset Management Inc. purchased a new stake in Tractor Supply in the 3rd quarter worth about $3,317,000. California Public Employees Retirement System lifted its stake in Tractor Supply by 2.1% in the 3rd quarter. California Public Employees Retirement System now owns 278,078 shares of the specialty retailer’s stock worth $17,600,000 after acquiring an additional 5,778 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Tractor Supply by 26.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,319 shares of the specialty retailer’s stock worth $842,000 after acquiring an additional 2,802 shares in the last quarter. 92.95% of the stock is 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.
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