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

Guggenheim reaffirmed their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a research report report published on Thursday,Benzinga reports. The firm currently has a $65.00 target price on the specialty retailer’s stock.

TSCO has been the topic of a number of other research reports. UBS Group set a $57.00 price objective on Tractor Supply and gave the stock a “neutral” rating in a research note on Friday, January 16th. Jefferies Financial Group raised shares of Tractor Supply from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $65.00 price target on shares of Tractor Supply in a research note on Thursday, October 23rd. DA Davidson set a $70.00 price objective on shares of Tractor Supply in a research note on Friday, October 24th. Finally, TD Cowen reduced their target price on shares of Tractor Supply from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.81.

Tractor Supply Stock Up 0.4%

Shares of TSCO stock opened at $53.40 on Thursday. The company’s fifty day simple moving average is $52.26 and its two-hundred day simple moving average is $55.82. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $63.99. The stock has a market cap of $28.22 billion, a P/E ratio of 25.67, a PEG ratio of 2.49 and a beta of 0.74. The company has a quick ratio of 0.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.69.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.45 earnings per share. Analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Tractor Supply’s payout ratio is currently 44.23%.

Institutional Trading of Tractor Supply

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Buckhead Capital Management LLC boosted its position in Tractor Supply by 310.3% in the third quarter. Buckhead Capital Management LLC now owns 36,863 shares of the specialty retailer’s stock valued at $2,096,000 after buying an additional 27,878 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Tractor Supply by 6.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 130,035 shares of the specialty retailer’s stock valued at $6,862,000 after acquiring an additional 7,871 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Tractor Supply by 45.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 149,323 shares of the specialty retailer’s stock valued at $7,880,000 after acquiring an additional 46,471 shares during the last quarter. Bison Wealth LLC boosted its holdings in shares of Tractor Supply by 356.1% in the 4th quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock valued at $341,000 after acquiring an additional 5,017 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in shares of Tractor Supply by 5.3% in the third quarter. Congress Asset Management Co. now owns 1,079,186 shares of the specialty retailer’s stock worth $61,373,000 after acquiring an additional 54,716 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.