Wells Fargo Keeps Their Buy Rating on Tractor Supply


Wells Fargo analyst Zachary Fadem maintained a Buy rating on Trakor Supply (NASDAQ: TSCO) today and set a price target of $72. The company’s shares opened today at $62.77.

Fadem noted:

“We are raising our price target by $2 to $72. Reiterate Outperform.”

According to TipRanks.com, Fadem is a 3-star analyst with an average return of 5.0% and a 59.2% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.

Currently, the analyst consensus on Tractor Supply is Moderate Buy and the average price target is $71.29, representing a 5% downside.

In a report issued on April 16, Goldman Sachs also upgraded the stock to Buy with a $72 price target.

See today’s analyst top recommended stocks >>

Based on Trakor Supply’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.95 billion and quarterly net profit of $110 million. In comparison, last year the company earned revenue of $1.56 billion and had a net profit of $60.31 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TSCO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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