Tractor Supply (NASDAQ:TSCO) Earns “Buy” Rating from Guggenheim

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

TSCO has been the topic of a number of other reports. Mizuho increased their price objective on shares of Tractor Supply from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Evercore ISI raised Tractor Supply from a “hold” rating to an “outperform” rating and increased their target price for the company from $60.00 to $65.00 in a report on Wednesday, November 5th. Citigroup reaffirmed a “buy” rating and set a $61.00 price objective (down from $66.00) on shares of Tractor Supply in a research report on Friday, January 16th. UBS Group set a $57.00 target price on Tractor Supply and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, Jefferies Financial Group raised Tractor Supply from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and an average price target of $62.95.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $54.20 on Thursday. The stock 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. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.30 and a quick ratio of 0.14. The business has a 50-day moving average of $52.31 and a 200 day moving average of $55.84. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $63.99.

Tractor Supply (NASDAQ:TSCO) last posted 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. Tractor Supply had a return on equity of 46.18% and a net margin of 7.18%.The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $0.45 EPS. Tractor Supply’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TSCO. GPS Wealth Strategies Group LLC boosted its holdings in Tractor Supply by 1.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 17,908 shares of the specialty retailer’s stock valued at $945,000 after purchasing an additional 175 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its stake in shares of Tractor Supply by 8.0% in the third quarter. Financial Network Wealth Advisors LLC now owns 2,465 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 182 shares in the last quarter. Bennett Selby Investments LP grew its holdings in Tractor Supply by 1.3% during the second quarter. Bennett Selby Investments LP now owns 14,932 shares of the specialty retailer’s stock worth $788,000 after acquiring an additional 191 shares during the period. Mount Vernon Associates Inc. MD raised its position in Tractor Supply by 0.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 67,570 shares of the specialty retailer’s stock worth $3,566,000 after acquiring an additional 200 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in Tractor Supply by 0.6% in the third quarter. Perigon Wealth Management LLC now owns 34,036 shares of the specialty retailer’s stock valued at $1,936,000 after acquiring an additional 200 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

About Tractor Supply

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.