Tractor Supply Co. (NASDAQ:TSCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $85.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 11.24% from the company’s current price.
According to Zacks, “Tractor Supply remains well positioned for growth given its smooth progress on store expansion and technological advancements. Driven by its growth drivers, the stock has substantially outperformed the broader industry in the last three months. Further, efforts toward efficient inventory management and cost-cutting, along with strategic buyouts like that of Petsense, bode well. Estimates have also been stable ahead of the fourth quarter release and it has positive record of earnings surprises in recent quarters. However, the challenging economic backdrop at the agricultural and energy sectors has been taking a toll on consumer spending. This has been weighing on Tractor Supply’s top line performance for a while now. Also, management retained its cautious stance on 2016, as the aforementioned obstacles and the company’s seasonal business remain concerns. Additionally, stiff competition from other players remains a threat.”
TSCO has been the topic of several other research reports. Deutsche Bank AG dropped their price target on Tractor Supply from $76.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, September 30th. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Tractor Supply in a research report on Friday, October 7th. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Tractor Supply in a research report on Friday, October 14th. Telsey Advisory Group lowered their price objective on shares of Tractor Supply from $88.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $74.00 price objective on shares of Tractor Supply in a research report on Tuesday, October 4th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Tractor Supply presently has an average rating of “Hold” and a consensus price target of $86.67.
Tractor Supply (NASDAQ:TSCO) opened at 76.41 on Tuesday. Tractor Supply has a 12 month low of $61.50 and a 12 month high of $97.25. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 24.25 and a beta of 1.30. The company has a 50 day moving average price of $76.32 and a 200 day moving average price of $76.94.
In other Tractor Supply news, Director Mark J. Weikel bought 1,000 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were acquired at an average price of $66.14 per share, with a total value of $66,140.00. Following the completion of the purchase, the director now directly owns 5,627 shares in the company, valued at approximately $372,169.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anthony F. Crudele sold 30,000 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $76.40, for a total transaction of $2,292,000.00. Following the completion of the sale, the chief financial officer now directly owns 85,366 shares in the company, valued at approximately $6,521,962.40. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TSCO. Spectrum Management Group Inc. acquired a new stake in Tractor Supply during the second quarter worth $796,000. Waverton Investment Management Ltd acquired a new stake in Tractor Supply during the second quarter worth $4,176,000. LMR Partners LLP acquired a new stake in Tractor Supply during the second quarter worth $1,190,000. Advisory Services Network LLC boosted its stake in Tractor Supply by 6.1% in the second quarter. Advisory Services Network LLC now owns 8,325 shares of the company’s stock worth $759,000 after buying an additional 475 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Tractor Supply during the second quarter worth $327,000. 87.68% 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 operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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