Oppenheimer Maintains a Hold Rating on Tractor Supply (TSCO)

By Carrie Williams

Oppenheimer analyst Brian Nagel maintained a Hold rating on Tractor Supply (TSCOResearch Report) today and set a price target of $100. The company’s shares opened today at $104.80, close to its 52-week high of $107.98.

Nagel noted:

“We look quite favorably upon the better than expected Q1:19 (Mar.) results that Tractor Supply (TSCO) reported early today and upon the updated guidance for 2019. As we dig through results, we come away particularly impressed with the company’s ability to deliver a comp sales gain of +5.0% (vs. a posted Street forecast of +4.0%), against a backdrop of less than favorable weather and softer oil prices, at least early in the period. More consistently solid top-line trends at TSCO afford us greater confidence in the potential for the chain to at least meet guidance and Street expectations for the balance of 2019.”

According to TipRanks.com, Nagel is a 5-star analyst with an average return of 9.9% and a 67.3% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Capri Holdings Limited, and Dick’s Sporting Goods.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tractor Supply with a $101.50 average price target, representing a -3.1% downside. In a report issued on April 15, Morgan Stanley also maintained a Hold rating on the stock with a $96 price target.

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Tractor Supply’s market cap is currently $12.68B and has a P/E ratio of 24.07. The company has a Price to Book ratio of 8.12.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock.

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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.