Tractor Supply Company (TSCO) Receives “Hold” Rating from Credit Suisse Group
Credit Suisse Group restated their hold rating on shares of Tractor Supply Company (NASDAQ:TSCO) in a research note published on Wednesday. Credit Suisse Group currently has a $54.00 price objective on the specialty retailer’s stock.
A number of other research firms have also recently weighed in on TSCO. Piper Jaffray Companies set a $55.00 price target on Tractor Supply and gave the company a hold rating in a research note on Tuesday, July 25th. BidaskClub upgraded Tractor Supply from a sell rating to a hold rating in a research note on Wednesday, July 19th. Robert W. Baird set a $62.00 price target on Tractor Supply and gave the company a buy rating in a research note on Friday, August 25th. BMO Capital Markets increased their price target on Tractor Supply from $57.00 to $58.00 and gave the company a market perform rating in a research note on Friday, July 28th. Finally, Guggenheim restated a buy rating and issued a $70.00 price target (down previously from $80.00) on shares of Tractor Supply in a research note on Thursday, July 27th. Sixteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $71.38.
Shares of Tractor Supply (NASDAQ:TSCO) traded down 0.16% during midday trading on Wednesday, hitting $62.30. 450,133 shares of the stock traded hands. The company has a market capitalization of $7.89 billion, a PE ratio of 18.83 and a beta of 1.30. The firm’s 50 day moving average price is $56.87 and its 200 day moving average price is $60.02. Tractor Supply has a 12-month low of $49.87 and a 12-month high of $78.25. Tractor Supply also was the target of some unusual options trading on Tuesday. Traders acquired 1,064 put options on the company. This represents an increase of approximately 787% compared to the average volume of 120 put options.
Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.02). Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the company posted $1.16 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. Analysts expect that Tractor Supply will post $3.25 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, August 17th. Tractor Supply’s dividend payout ratio (DPR) is presently 32.53%.
Large investors have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia boosted its stake 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 valued at $128,000 after buying an additional 317 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Tractor Supply in the second quarter valued at about $139,000. Bronfman E.L. Rothschild L.P. boosted its stake 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 valued at $172,000 after buying an additional 91 shares in the last quarter. Globeflex Capital L P acquired a new stake in Tractor Supply in the second quarter valued at about $206,000. Finally, Koch Industries Inc. acquired a new stake in Tractor Supply in the first quarter valued at about $216,000. 92.27% 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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