Tractor Supply (NASDAQ:TSCO) Given New $64.00 Price Target at Argus

Tractor Supply (NASDAQ:TSCOFree Report) had its price objective reduced by Argus from $67.00 to $64.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other brokerages also recently issued reports on TSCO. Citigroup reiterated a “buy” rating and issued a $61.00 price target (down from $66.00) on shares of Tractor Supply in a report on Friday, January 16th. The Goldman Sachs Group set a $59.00 target price on Tractor Supply and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company reissued an “overweight” rating and set a $65.00 price target on shares of Tractor Supply in a research report on Thursday, October 23rd. Telsey Advisory Group lowered their price target on shares of Tractor Supply from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, January 29th. Finally, Stephens set a $53.00 price objective on shares of Tractor Supply and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.78.

Check Out Our Latest Stock Analysis on TSCO

Tractor Supply Stock Performance

TSCO stock opened at $52.98 on Monday. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $63.99. The business has a 50-day moving average price of $52.30 and a 200 day moving average price of $55.65. The company has a market capitalization of $27.99 billion, a P/E ratio of 25.59, a PEG ratio of 2.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16.

Tractor Supply (NASDAQ:TSCOGet Free Report) last posted its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, November 24th. Tractor Supply’s payout ratio is currently 44.44%.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently made changes to their positions in the company. Delos Wealth Advisors LLC acquired a new stake in shares of Tractor Supply in the second quarter worth $26,000. JPL Wealth Management LLC acquired a new position in Tractor Supply during the third quarter valued at $28,000. Aventura Private Wealth LLC purchased a new stake in Tractor Supply in the fourth quarter valued at $27,000. Flagship Harbor Advisors LLC acquired a new stake in Tractor Supply during the 4th quarter worth about $35,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Tractor Supply during the 2nd quarter valued at about $38,000. 98.72% of the stock is owned by institutional investors and hedge funds.

More Tractor Supply News

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Tractor Supply Company Profile

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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.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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