Tractor Supply (NASDAQ:TSCO) Receives New Coverage from Analysts at Goldman Sachs Group

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Goldman Sachs Group started coverage on shares of Tractor Supply (NASDAQ:TSCO) in a research report sent to investors on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $122.00 target price on the specialty retailer’s stock.

A number of other brokerages have also recently weighed in on TSCO. Evercore ISI initiated coverage on shares of Polarityte in a report on Wednesday, March 20th. They set an outperform rating and a $26.00 target price for the company. Zacks Investment Research cut shares of Hollysys Automation Technologies from a hold rating to a sell rating in a report on Thursday, April 11th. Morgan Stanley set a $10.00 price target on shares of Ford Motor and gave the company a hold rating in a research report on Friday, April 26th. Wedbush restated a hold rating and issued a $1.00 price target on shares of Regulus Therapeutics in a research report on Thursday, May 16th. Finally, Piper Jaffray Companies upped their price target on shares of Tractor Supply from $102.00 to $114.00 and gave the company an overweight rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $101.72.

Shares of NASDAQ:TSCO opened at $112.97 on Thursday. The company has a market capitalization of $13.63 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 2.09 and a beta of 1.09. Tractor Supply has a 1-year low of $75.84 and a 1-year high of $113.54. The company has a quick ratio of 0.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $106.53.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.07. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Tractor Supply had a net margin of 6.68% and a return on equity of 36.16%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. As a group, research analysts predict that Tractor Supply will post 4.77 earnings per share for the current fiscal year.

In other Tractor Supply news, SVP John P. Ordus sold 10,968 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $104.09, for a total value of $1,141,659.12. Following the completion of the sale, the senior vice president now owns 21,000 shares in the company, valued at approximately $2,185,890. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steve K. Barbarick sold 36,108 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $104.10, for a total transaction of $3,758,842.80. Following the completion of the sale, the chief operating officer now owns 60,258 shares of the company’s stock, valued at approximately $6,272,857.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,610 shares of company stock valued at $16,162,978. Insiders own 1.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TSCO. Great West Life Assurance Co. Can raised its position in Tractor Supply by 47.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 124,420 shares of the specialty retailer’s stock valued at $9,787,000 after purchasing an additional 39,908 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Tractor Supply by 6.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 20,838 shares of the specialty retailer’s stock valued at $1,739,000 after purchasing an additional 1,175 shares in the last quarter. Commonwealth Bank of Australia raised its position in Tractor Supply by 5.6% during the 4th quarter. Commonwealth Bank of Australia now owns 10,806 shares of the specialty retailer’s stock valued at $897,000 after purchasing an additional 571 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Tractor Supply by 9.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,282 shares of the specialty retailer’s stock valued at $3,445,000 after purchasing an additional 3,579 shares in the last quarter. Finally, United Services Automobile Association raised its position in Tractor Supply by 27.5% during the 4th quarter. United Services Automobile Association now owns 59,786 shares of the specialty retailer’s stock valued at $4,989,000 after purchasing an additional 12,880 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

About Tractor Supply

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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