Tractor Supply (TSCO) Lifted to “Outperform” at Wedbush

Wedbush upgraded shares of Tractor Supply (NASDAQ:TSCO) from a neutral rating to an outperform rating in a report released on Friday morning, Marketbeat.com reports. They currently have $100.00 target price on the specialty retailer’s stock, up from their prior target price of $80.00. Wedbush also issued estimates for Tractor Supply’s FY2020 earnings at $5.09 EPS.

TSCO has been the subject of a number of other reports. Oppenheimer boosted their price objective on shares of Tractor Supply from $90.00 to $100.00 and gave the stock an outperform rating in a report on Friday, September 14th. Stephens set a $93.00 price objective on shares of Tractor Supply and gave the stock a buy rating in a report on Friday, July 27th. Zacks Investment Research upgraded shares of Tractor Supply from a hold rating to a buy rating and set a $88.00 price objective for the company in a report on Friday, August 3rd. BidaskClub upgraded shares of Tractor Supply from a buy rating to a strong-buy rating in a report on Saturday, September 29th. Finally, Royal Bank of Canada upgraded shares of Tractor Supply from a sector perform rating to an outperform rating in a report on Thursday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $87.73.

Shares of TSCO opened at $93.96 on Friday. The company has a market capitalization of $11.06 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 0.21. Tractor Supply has a fifty-two week low of $57.89 and a fifty-two week high of $95.17.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. Equities research analysts expect that Tractor Supply will post 4.29 earnings per share for the current year.

In related news, CFO Kurt D. Barton sold 6,156 shares of Tractor Supply stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $84.50, for a total value of $520,182.00. Following the transaction, the chief financial officer now directly owns 32,327 shares of the company’s stock, valued at $2,731,631.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 11,156 shares of Tractor Supply stock in a transaction on Friday, August 24th. The stock was sold at an average price of $86.74, for a total transaction of $967,671.44. Following the completion of the transaction, the chief financial officer now directly owns 32,327 shares in the company, valued at $2,804,043.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,530 shares of company stock worth $18,348,570. 1.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TSCO. Public Employees Retirement Association of Colorado increased its position in Tractor Supply by 21.0% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 186,162 shares of the specialty retailer’s stock valued at $16,918,000 after purchasing an additional 32,247 shares during the period. Conning Inc. purchased a new position in Tractor Supply during the 3rd quarter valued at $200,000. Oppenheimer & Co. Inc. purchased a new position in Tractor Supply during the 3rd quarter valued at $288,000. Sawtooth Solutions LLC purchased a new position in Tractor Supply during the 3rd quarter valued at $231,000. Finally, Russell Investments Group Ltd. increased its position in Tractor Supply by 56.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 45,574 shares of the specialty retailer’s stock valued at $4,145,000 after purchasing an additional 16,409 shares during the period. 81.89% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

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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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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