Recent Research Analysts’ Ratings Updates for Tractor Supply (TSCO)

A number of research firms have changed their ratings and price targets for Tractor Supply (NASDAQ: TSCO):

  • 5/16/2019 – Tractor Supply had its price target raised by analysts at Barclays PLC from $100.00 to $115.00. They now have an “overweight” rating on the stock.
  • 5/16/2019 – Tractor Supply had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $115.00 price target on the stock.
  • 5/15/2019 – Tractor Supply had its “buy” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $115.00 price target on the stock. They wrote, “We have long been fans of the TSCO model (+MSD comps, white space, staples-like assortment, growing capital deployment) and believe today’s transparency adds additional comfort that NT targets are achievable and LT initiatives have legs. Thus, we would use recent tariff-driven uncertainty (-3% since 5/10 vs. -1% SPX) as an opportunity to be more involved in a growing, best-in-class operator, with a multi-year runway for continued growth. Reiterate Outperform.””
  • 4/30/2019 – Tractor Supply was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/26/2019 – Tractor Supply had its price target raised by analysts at Wedbush from $105.00 to $115.00. They now have an “outperform” rating on the stock.
  • 4/26/2019 – Tractor Supply had its price target raised by analysts at Morgan Stanley from $96.00 to $104.00. They now have an “equal weight” rating on the stock.
  • 4/23/2019 – Tractor Supply was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 4/22/2019 – Tractor Supply had its price target raised by analysts at Telsey Advisory Group from $92.00 to $98.00. They now have a “market perform” rating on the stock.
  • 4/22/2019 – Tractor Supply had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $98.00 price target on the stock, up previously from $92.00.
  • 4/18/2019 – Tractor Supply had its price target raised by analysts at Wells Fargo & Co from $108.00 to $114.00. They now have an “outperform” rating on the stock.
  • 4/15/2019 – Tractor Supply had its price target raised by analysts at Loop Capital to $106.00. They now have a “hold” rating on the stock.
  • 4/15/2019 – Tractor Supply had its price target raised by analysts at Morgan Stanley from $89.00 to $96.00. They now have an “equal weight” rating on the stock.
  • 4/11/2019 – Tractor Supply was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Although Tractor Supply outpaced the industry in the past year, expectations of higher costs remains a threat to margins, which may impact its performance. Tractor Supply remains committed to enhance its business via store-growth and omni-channel initiatives. However, higher investments toward infrastructure and technology remain a concern. This along with higher freight costs and negative mix are weighing on the company’s margins. Further, the company expects modest operating margin decline in first-quarter 2019, due to the Frankfort distribution center-related pre-opening costs and higher transportation costs. Stiff industry competition and volatility in raw material prices are additional headwinds. However, the company is benefiting from focus on store growth initiatives, ONETractor plan, expanded loyalty program, and rollout of Stockyard in-store kiosk and mobiles POS. Moreover, the company’s upbeat outlook for 2019 drives optimism.”
  • 4/11/2019 – Tractor Supply had its price target raised by analysts at Piper Jaffray Companies from $102.00 to $114.00. They now have an “overweight” rating on the stock.
  • 4/11/2019 – Tractor Supply had its “neutral” rating reaffirmed by analysts at Bank of America Corp. They now have a $95.00 price target on the stock.
  • 4/9/2019 – Tractor Supply was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 3/26/2019 – Tractor Supply was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/21/2019 – Tractor Supply was upgraded by analysts at Gordon Haskett from an “accumulate” rating to a “buy” rating.
  • 3/20/2019 – Tractor Supply is now covered by analysts at Evercore ISI. They set an “outperform” rating and a $105.00 price target on the stock.

TSCO traded up $0.26 during midday trading on Friday, reaching $101.30. The company had a trading volume of 67,312 shares, compared to its average volume of 1,365,982. The company has a quick ratio of 0.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.84 and a beta of 1.11. Tractor Supply has a 12-month low of $70.75 and a 12-month high of $107.98.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.07. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Tractor Supply had a net margin of 6.68% and a return on equity of 36.16%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Tractor Supply will post 4.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, May 24th. Tractor Supply’s payout ratio is presently 28.77%.

In other Tractor Supply news, CEO Gregory A. Sandfort sold 74,667 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $105.00, for a total value of $7,840,035.00. Following the transaction, the chief executive officer now directly owns 166,325 shares in the company, valued at $17,464,125. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Chad Michael Frazell sold 7,835 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $100.07, for a total transaction of $784,048.45. Following the completion of the transaction, the senior vice president now owns 20,982 shares in the company, valued at $2,099,668.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,062 shares of company stock worth $37,903,170. Corporate insiders own 1.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its position in shares of Tractor Supply by 0.3% in the third quarter. Vanguard Group Inc now owns 12,358,247 shares of the specialty retailer’s stock valued at $1,123,118,000 after purchasing an additional 35,414 shares during the period. BlackRock Inc. raised its position in shares of Tractor Supply by 2.8% in the first quarter. BlackRock Inc. now owns 9,346,711 shares of the specialty retailer’s stock valued at $913,734,000 after purchasing an additional 253,455 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Tractor Supply by 12,298.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,941,622 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 3,909,832 shares during the period. JPMorgan Chase & Co. raised its position in shares of Tractor Supply by 73.0% in the third quarter. JPMorgan Chase & Co. now owns 2,339,567 shares of the specialty retailer’s stock valued at $212,619,000 after purchasing an additional 987,193 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Tractor Supply by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 1,931,675 shares of the specialty retailer’s stock valued at $160,949,000 after purchasing an additional 195,817 shares during the period. Hedge funds and other institutional investors own 83.54% of the company’s stock.

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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