Tractor Supply Company (NASDAQ:TSCO) Reaches New 52-Week Low on Analyst Downgrade

Tractor Supply Company (NASDAQ:TSCO) shares reached a new 52-week low during trading on Thursday after Telsey Advisory Group lowered their price target on the stock from $83.00 to $62.00. Telsey Advisory Group currently has an outperform rating on the stock. Tractor Supply traded as low as $51.68 and last traded at $51.71, with a volume of 1,575,294 shares changing hands. The stock had previously closed at $53.00.

Several other research analysts also recently commented on the stock. TheStreet downgraded shares of Tractor Supply from a “b” rating to a “c+” rating in a report on Wednesday, April 12th. Wedbush dropped their price objective on shares of Tractor Supply from $83.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 28th. Zacks Investment Research raised shares of Tractor Supply from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. CIBC downgraded shares of Tractor Supply from an “outperform” rating to a “market perform” rating in a report on Thursday, May 4th. Finally, Oppenheimer Holdings, Inc. set a $88.00 price target on shares of Tractor Supply and gave the company a “buy” rating in a report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.55.

A number of institutional investors have recently modified their holdings of the stock. Sheets Smith Wealth Management raised its position in shares of Tractor Supply by 0.8% in the first quarter. Sheets Smith Wealth Management now owns 64,747 shares of the specialty retailer’s stock valued at $4,466,000 after buying an additional 500 shares during the last quarter. Douglass Winthrop Advisors LLC raised its position in shares of Tractor Supply by 1,427.8% in the first quarter. Douglass Winthrop Advisors LLC now owns 271,948 shares of the specialty retailer’s stock valued at $18,756,000 after buying an additional 254,148 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Tractor Supply by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 115,209 shares of the specialty retailer’s stock valued at $7,946,000 after buying an additional 3,733 shares during the last quarter. Woodstock Corp raised its position in shares of Tractor Supply by 2.8% in the first quarter. Woodstock Corp now owns 30,855 shares of the specialty retailer’s stock valued at $2,128,000 after buying an additional 850 shares during the last quarter. Finally, Pensionfund DSM Netherlands raised its position in shares of Tractor Supply by 13.5% in the first quarter. Pensionfund DSM Netherlands now owns 38,600 shares of the specialty retailer’s stock valued at $2,662,000 after buying an additional 4,600 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.

The firm has a market cap of $6.72 billion, a P/E ratio of 16.14 and a beta of 1.32. The stock’s 50-day moving average is $55.58 and its 200 day moving average is $67.24.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Wednesday, April 26th. The specialty retailer reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Tractor Supply had a net margin of 6.25% and a return on equity of 29.64%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts predict that Tractor Supply Company will post $3.41 EPS for the current year.

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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.

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