Wells Fargo analyst Zachary Fadem maintained a Buy rating on Tractor Supply (TSCO – Research Report) today and set a price target of $230.00. The company’s shares closed last Thursday at $209.90, close to its 52-week high of $213.68.
According to TipRanks.com, Fadem is a top 100 analyst with an average return of 30.1% and a 77.4% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, National Vision Holdings, and Floor & Decor Holdings.
Currently, the analyst consensus on Tractor Supply is a Moderate Buy with an average price target of $215.17, which is a 1.7% upside from current levels. In a report issued on October 13, Guggenheim also maintained a Buy rating on the stock with a $215.00 price target.
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Based on Tractor Supply’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.6 billion and net profit of $370 million. In comparison, last year the company earned revenue of $3.18 billion and had a net profit of $339 million.
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Tractor Supply Co. engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense. Its product categories includes equine, livestock, pet, and small animal; hardware, truck, towing, and tool; heating, lawn and garden items, power equipment, gifts, and toys; recreational clothing and footwear; and maintenance products for agricultural and rural use. The company was founded by Charles E. Schmidt, Sr. in 1938 and is headquartered in Brentwood, TN.
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