Tractor Supply’s (TSCO) “Buy” Rating Reiterated at Guggenheim

Tractor Supply (NASDAQ:TSCO)‘s stock had its “buy” rating reaffirmed by equities researchers at Guggenheim in a research note issued to investors on Thursday,Benzinga reports. They presently have a $65.00 price objective on the specialty retailer’s stock. Guggenheim’s target price indicates a potential upside of 19.93% from the stock’s previous close.

A number of other analysts have also recently weighed in on TSCO. Truist Financial set a $55.00 price target on shares of Tractor Supply and gave the company a “hold” rating in a report on Friday, January 16th. Evercore ISI raised shares of Tractor Supply from a “hold” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $65.00 in a report on Wednesday, November 5th. Wells Fargo & Company reiterated an “overweight” rating and set a $65.00 price objective on shares of Tractor Supply in a report on Thursday, October 23rd. TD Cowen reduced their target price on Tractor Supply from $62.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, DA Davidson set a $70.00 price target on Tractor Supply in a report on Friday, October 24th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.95.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $54.20 on Thursday. The firm has a 50 day moving average of $52.31 and a 200 day moving average of $55.84. The company has a quick ratio of 0.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $28.64 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $63.99.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.72 billion. Tractor Supply had a return on equity of 46.18% and a net margin of 7.18%.The business’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. On average, sell-side analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Tractor Supply by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 67,679,109 shares of the specialty retailer’s stock worth $3,571,427,000 after purchasing an additional 1,047,687 shares during the last quarter. Wellington Management Group LLP increased its position in Tractor Supply by 1.6% during the third quarter. Wellington Management Group LLP now owns 25,931,699 shares of the specialty retailer’s stock worth $1,474,736,000 after purchasing an additional 420,731 shares during the last quarter. State Street Corp boosted its holdings in Tractor Supply by 0.7% in the 2nd quarter. State Street Corp now owns 23,002,120 shares of the specialty retailer’s stock valued at $1,213,822,000 after purchasing an additional 150,392 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tractor Supply by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 15,367,775 shares of the specialty retailer’s stock worth $808,341,000 after buying an additional 316,595 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Tractor Supply by 123.4% during the 2nd quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock valued at $795,735,000 after buying an additional 8,329,462 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.