Sheets Smith Wealth Management buys $5573432 stake in Tractor Supply Company (TSCO)
Sep 09 2016
2 Analyst considers the fundamentals to be worthy of a Buy recommendation.
Analysts on the Street are anticipating Tractor Supply Company (NASDAQ:TSCO) will report earnings per share of $0.83 for the fiscal quarter ending on 2016-09-30. Zacks Investment Research suggests a Hold with a rank of 3.
Other research analysts also recently issued reports about the stock. Over the last 30 and 90 trading days the company share price has decreased 20.54 points and decreased 24.27 points respectively. We lower our 2016 EPS to $3.25 (from $3.38) and 2017 to $3.58 (from $3.86), and our target price goes to $72, which is based on 20x our new 2017 EPS, a multiple that it has bottomed at in the recent past. Tractor Supply has a consensus rating of "Hold" and a consensus price target of $97.83. The estimated standard deviation from the target is $14.55. Analyst had a consensus estimate of $1.16. Tractor Supply Company makes up approx 0.14% of Alliancebernstein's portfolio.State Treasurer State Of Michigan boosted its stake in TSCO in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 681,400 shares of Tractor Supply Company which is valued at $61,946,074. They now have a United States dollars 110 price target on the stock. The firm presently has an "overweight" rating on the stock. Additionally, the stock has lost -0.63% since the beginning of 2016. There are now 133,632,795 shares in issue with the average daily volume traded being 1,146,114. The stock failed to cross $83.735 in Wednesdays trading. They now have a Dollars 103 price target on the stock. On one hand, the home-improvement market that Home Depot primarily serves does not have substantial overlap with Tractor Supply's roughly 15,000 USA stores mainly focused on meeting the demands of recreational farmers and ranchers, primarily in rural areas. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers as well as tradesmen and small businesses. While the Company's sales are not directly dependent on the production farming industry, the third consecutive year of declining farm income appears to be having a broader effect in many of its rural farming communities. The Company's stores offer merchandise, which includes equine, livestock, pet and small animal products; hardware, truck, towing and tool products; seasonal products, including heating, lawn and garden items, power equipment, gifts and toys; work/recreational clothing and footwear, and maintenance products for agricultural and rural use. Its products are offered under various brands which include 4health Blue Mountain Countyline Equistages Groundwork Huskee JobSmart Dumor C.E. Schmidt Paws & Claws Producer's Pride and Redstone among others.