Robert W. Baird Reiterates “Buy” Rating for Tractor Supply Company (TSCO)

Robert W. Baird reissued their buy rating on shares of Tractor Supply Company (NASDAQ:TSCO) in a research report sent to investors on Friday. They currently have a $66.00 price target on the specialty retailer’s stock.

Several other research firms have also recently weighed in on TSCO. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Tractor Supply in a research report on Thursday, October 26th. Piper Jaffray Companies set a $55.00 price objective on Tractor Supply and gave the stock a hold rating in a research report on Tuesday, July 25th. BidaskClub raised Tractor Supply from a sell rating to a hold rating in a research report on Wednesday, July 19th. Credit Suisse Group set a $52.00 price objective on Tractor Supply and gave the stock a hold rating in a research report on Thursday, October 26th. Finally, BMO Capital Markets boosted their price objective on Tractor Supply from $57.00 to $58.00 and gave the stock a market perform rating in a research report on Friday, July 28th. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $68.63.

Tractor Supply (NASDAQ:TSCO) opened at $61.33 on Friday. The stock has a market capitalization of $7,869.12, a P/E ratio of 18.60, a P/E/G ratio of 1.37 and a beta of 1.29. The company has a current ratio of 2.00, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Tractor Supply has a 1 year low of $49.87 and a 1 year high of $78.25.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. Tractor Supply’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. research analysts forecast that Tractor Supply will post 3.28 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Monday, November 20th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.76%. Tractor Supply’s payout ratio is 32.05%.

Several large investors have recently added to or reduced their stakes in the stock. New Amsterdam Partners LLC NY raised its stake in shares of Tractor Supply by 0.7% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 6,893 shares of the specialty retailer’s stock valued at $374,000 after purchasing an additional 50 shares during the period. Mount Vernon Associates Inc. MD raised its stake in shares of Tractor Supply by 0.4% during the 2nd quarter. Mount Vernon Associates Inc. MD now owns 17,380 shares of the specialty retailer’s stock valued at $942,000 after purchasing an additional 75 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of Tractor Supply by 3.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 5,664 shares of the specialty retailer’s stock valued at $307,000 after purchasing an additional 200 shares during the period. Virginia Retirement Systems ET AL raised its stake in shares of Tractor Supply by 4.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 4,300 shares of the specialty retailer’s stock valued at $233,000 after purchasing an additional 200 shares during the period. Finally, Allegis Investment Advisors LLC raised its stake in shares of Tractor Supply by 1.7% during the 2nd quarter. Allegis Investment Advisors LLC now owns 12,942 shares of the specialty retailer’s stock valued at $702,000 after purchasing an additional 216 shares during the period. Institutional investors own 92.95% of the company’s stock.

About Tractor Supply

Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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