Royal Bank Of Canada downgraded shares of Tractor Supply from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $100.00 to $79.00 in a research report on Thursday.
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Tractor Supply Company had its “outperform” rating reiterated by analysts at Oppenheimer.
Sell-side Research analysts on Wall Street that monitor future earnings growth for Tractor Supply Company (NASDAQ:TSCO) are anticipating that the company will post an EPS number of $0.83 for the quarter ending 2016-09-30. Separately, on the same day, Deutsche Bank’s Adam Sindler downgraded the stock to Hold and has a price target of $76.
Tractor Supply Co., which runs about 1,500 farm-gear and hardware stores in the rural USA, fell the most in five years after weaker sales in oil-producing regions prompted the company to cut its forecast.
Sheets Smith Wealth Management scooped up 540 additional shares in Tractor Supply Company during the most recent quarter end, the firm said in a disclosure report filed with the SEC on Aug 15, 2016. Piper Jaffray Cos. restated a “buy” rating on shares of Tractor Supply in a research report on Sunday, May 22nd. Its stock is traded on the NASDAQ exchange under the symbol “TSCO”. Institutional investors and hedge funds own 91.99% of the company’s stock. The company has a market cap of $9.34 billion and a P/E ratio of 22.4118. The 12-month average price target assigned to the stock is $87.00, which represents a slight upside potential from current levels. The stock’s 50-day moving average is $86.98 and its 200-day moving average is $90.15.
For the third quarter, the company issued revenue guidance in the range of $1.54 billion to $1.55 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Comparable store transaction counts in the third quarter are expected to be slightly positive to flat in comparison to the prior year third quarter. Analysts polled by Thomson Reuters expected per-share profit of 72 cents and revenue of $1.61 billion.
When evaluating trends in long term EPS estimates, analysts are giving a mean estimate for of $16.09 over 3 to 5 years.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. The ex-dividend date was Thursday, August 11th.
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The company was founded in 1938 as a mail order catalog business offering tractor parts to America’s family farmers. As of December 27 2014 it operated 1382 retail stores in 49 states under the names Tractor Supply Company Del’s Feed & Farm Supply and HomeTown Pet. In a statement, Tractor Supply executives said the slowdown in those industries appears to be “influencing consumer behavior in numerous communities” where the company does business.
