Argus Cuts Tractor Supply (NASDAQ:TSCO) Price Target to $64.00

Tractor Supply (NASDAQ:TSCO) had its target price reduced by Argus from $67.00 to $64.00 in a research note released on Monday,Benzinga reports. Argus currently has a buy rating on the specialty retailer’s stock.

TSCO has been the topic of several other research reports. Stephens set a $53.00 target price on Tractor Supply and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Citigroup reiterated a “buy” rating and set a $61.00 price target (down previously from $66.00) on shares of Tractor Supply in a research report on Friday, January 16th. Gordon Haskett cut shares of Tractor Supply from an “accumulate” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $50.00 in a research report on Thursday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Finally, Jefferies Financial Group reduced their target price on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.78.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $55.28 on Monday. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 2.68 and a beta of 0.74. The firm’s 50-day moving average price is $52.30 and its two-hundred day moving average price is $55.62. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $63.99.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. On average, equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. Garner Asset Management Corp acquired a new position in shares of Tractor Supply during the 4th quarter worth about $25,000. Delos Wealth Advisors LLC bought a new position in Tractor Supply during the 2nd quarter worth approximately $26,000. Aventura Private Wealth LLC bought a new position in Tractor Supply during the 4th quarter worth approximately $27,000. JPL Wealth Management LLC acquired a new position in Tractor Supply during the third quarter valued at approximately $28,000. Finally, Valley Wealth Managers Inc. bought a new stake in Tractor Supply in the fourth quarter valued at approximately $32,000. Institutional investors own 98.72% of the company’s stock.

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.