Barclays PLC reaffirmed their overweight rating on shares of Tractor Supply Company (NASDAQ:TSCO) in a research report released on Saturday, July 22nd. The firm currently has a $70.00 target price on the specialty retailer’s stock, down from their prior target price of $90.00.
TSCO has been the subject of several other research reports. TheStreet lowered shares of Tractor Supply from a b rating to a c+ rating in a research note on Wednesday, April 12th. Robert W. Baird set a $80.00 price objective on shares of Tractor Supply and gave the company a buy rating in a research note on Wednesday, April 12th. BMO Capital Markets set a $57.00 price objective on shares of Tractor Supply and gave the company a hold rating in a research note on Tuesday, July 11th. Guggenheim cut their target price on shares of Tractor Supply from $80.00 to $77.00 and set a hold rating for the company in a research report on Monday, April 17th. Finally, J P Morgan Chase & Co lowered shares of Tractor Supply from an overweight rating to a neutral rating and cut their target price for the stock from $88.00 to $67.00 in a research report on Wednesday, April 12th. Nineteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $74.91.
Shares of Tractor Supply (TSCO) traded down 0.40% during midday trading on Friday, hitting $54.70. The company had a trading volume of 3,048,336 shares. The company has a 50-day moving average of $53.58 and a 200 day moving average of $61.77. Tractor Supply has a 12 month low of $49.87 and a 12 month high of $86.25. The firm has a market capitalization of $6.93 billion, a PE ratio of 16.53 and a beta of 1.32.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.02 billion. Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $1.16 EPS. On average, analysts expect that Tractor Supply will post $3.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, August 17th. Tractor Supply’s dividend payout ratio is 32.53%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia increased its position in Tractor Supply by 15.4% in the second quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock worth $128,000 after buying an additional 317 shares during the period. Penserra Capital Management LLC acquired a new position in Tractor Supply during the second quarter worth $139,000. Bronfman E.L. Rothschild L.P. increased its position in Tractor Supply by 3.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,497 shares of the specialty retailer’s stock worth $172,000 after buying an additional 91 shares during the period. Globeflex Capital L P acquired a new position in Tractor Supply during the second quarter worth $206,000. Finally, Dynamic Advisors Solutions LLC increased its position in Tractor Supply by 3.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,065 shares of the specialty retailer’s stock worth $211,000 after buying an additional 100 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.
About Tractor Supply
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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