Tractor Supply (NASDAQ:TSCO) Given a $123.00 Price Target at Royal Bank of Canada
Royal Bank of Canada set a $123.00 price objective on Tractor Supply (NASDAQ:TSCO) in a research note released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the specialty retailer’s stock.
Several other research firms have also issued reports on TSCO. Wells Fargo & Co reissued a buy rating and set a $125.00 price target on shares of Tractor Supply in a research report on Thursday. Telsey Advisory Group reissued an outperform rating and set a $192.00 price target (up from $189.00) on shares of Deckers Outdoor in a research report on Friday. Piper Jaffray Companies began coverage on TowneBank in a research report on Tuesday, July 16th. They set a neutral rating and a $27.00 price target on the stock. Barclays reissued a buy rating on shares of Netflix in a research report on Thursday, May 16th. Finally, Goldman Sachs Group raised Altria Group from a neutral rating to a buy rating and set a $59.00 price target on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $107.65.
TSCO stock opened at $109.95 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.16 and a current ratio of 1.52. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 2.04 and a beta of 1.09. Tractor Supply has a 12-month low of $75.84 and a 12-month high of $114.25. The firm’s 50 day moving average price is $109.41.
In related news, SVP John P. Ordus sold 10,968 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $104.09, for a total transaction of $1,141,659.12. Following the completion of the transaction, the senior vice president now owns 21,000 shares of the company’s stock, valued at $2,185,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Steve K. Barbarick sold 36,108 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $104.10, for a total value of $3,758,842.80. Following the transaction, the chief operating officer now directly 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. Insiders have sold 79,943 shares of company stock valued at $8,322,943 in the last ninety days. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TSCO. Icon Wealth Partners LLC purchased a new stake in shares of Tractor Supply during the first quarter valued at $27,000. Liberty Wealth Management LLC purchased a new stake in shares of Tractor Supply during the fourth quarter valued at $31,000. Lindbrook Capital LLC lifted its holdings in shares of Tractor Supply by 79.7% during the first quarter. Lindbrook Capital LLC now owns 451 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Tractor Supply during the first quarter valued at $49,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Tractor Supply by 241.8% during the first quarter. Quadrant Capital Group LLC now owns 523 shares of the specialty retailer’s stock valued at $50,000 after purchasing an additional 370 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.
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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