Brokerage Firm Rating Update on Tractor Supply Company (TSCO)

Tractor Supply Company NASDAQ:TSCO has a 50 day moving average of 89.37 United States dollars and a 200 day moving average of 89.78 USD. WealthTrust Axiom LLC acquired a new stake in shares of Tractor Supply during the second quarter valued at about $240,000. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Tractor Supply by 1.8% in the second quarter. First Citizens Bank & Trust Co. raised its stake in shares of Tractor Supply by 35.5% in the second quarter. Kalmar Investments Inc. DE now owns 288,860 shares of the company’s stock worth $26,338,000 after buying an additional 59,660 shares in the last quarter.

Deutsche Bank revised down its rating on the stock from Buy to Hold, and cut the price objective from $100 to $76. Geode Capital Management LLC raised its position in Tractor Supply by 6.1% in the first quarter.

Tractor Supply Company opened for trading at $84.47 and hit $84.52 on the upside on Thursday, eventually ending the session at $84.08, with a gain of 0.15% or 0.13 points.

Shares of Tractor Supply have tumbled 16% to $70.52 at 11:16 a.m. today.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Wednesday, July 20th. This is indicating the analyst believes there is a potential upside of 24.2% from the opening price of 70.87 Dollars.

For 2016, Tractor Supply cut its per-share earnings estimate to between $3.22 and $3.26 on net sales of between $6.7 billion and $6.75 billion. The company had revenue of $1850.00 million for the quarter, compared to analysts expectations of $1851.88 million. During the same quarter in the previous year, the company posted $1.12 EPS. Now for the full year, Tractor Supply expects sales to clock in at range of between $6.7 billion and $6.75 billion, down from prior estimates of $6.8 billion to $6.9 billion. Shareholders of record on Monday, August 15th were issued a dividend of $0.24 per share. Using a simplified 1 to 5 scale where 5 represents a Strong Sell and 1 a Strong Buy, 15 analysts polled by Zacks had their ratings weighed into this average.

The company was founded in 1938 as a mail order catalog business offering tractor parts to America’s family farmers.

Stores supply the unique products to support their customers’ rural lifestyle, from welders and generators to animal care products and men and women’s workwear.

Tractor Supply Co.TSCO -0.02 % again reduced its guidance for the year, saying that weakness in the agricultural and energy sectors is weighing on consumer spending in numerous rural communities that the retailer serves.