Price Action Don’t Lie: What Will Happen to Tractor Supply Company Next? The Stock Just Reaches 52 Week Low

Price Action Don't Lie: What Will Happen to Tractor Supply Company Next? The Stock Just Reaches 52 Week Low

The stock of Tractor Supply Company (NASDAQ:TSCO) hit a new 52-week low and has $60.76 target or 8.00% below today’s $66.04 share price. The 7 months bearish chart indicates high risk for the $8.81B company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $60.76 price target is reached, the company will be worth $704.80M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.04M shares traded hands. Tractor Supply Company (NASDAQ:TSCO) has declined 25.33% since March 14, 2016 and is downtrending. It has underperformed by 30.94% the S&P500.

Analysts await Tractor Supply Company (NASDAQ:TSCO) to report earnings on October, 19 after the close. They expect $0.72 EPS, up 12.50% or $0.08 from last year’s $0.64 per share. TSCO’s profit will be $96.05 million for 22.93 P/E if the $0.72 EPS becomes a reality. After $1.16 actual EPS reported by Tractor Supply Company for the previous quarter, Wall Street now forecasts -37.93% negative EPS growth.

Tractor Supply Company (NASDAQ:TSCO) Ratings Coverage

Out of 15 analysts covering Tractor Supply (NASDAQ:TSCO), 8 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 53% are positive. Tractor Supply has been the topic of 25 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Credit Suisse maintained it with “Outperform” rating and $96 target price in Thursday, June 30 report. The company was maintained on Wednesday, January 13 by Telsey Advisory Group. The rating was maintained by Deutsche Bank on Friday, September 30 with “Buy”. The firm has “Mkt Perform” rating given on Thursday, September 8 by Raymond James. The stock of Tractor Supply Company (NASDAQ:TSCO) earned “Overweight” rating by JP Morgan on Thursday, June 30. Zacks upgraded the shares of TSCO in a report on Tuesday, September 22 to “Buy” rating. Credit Suisse downgraded Tractor Supply Company (NASDAQ:TSCO) on Thursday, September 8 to “Neutral” rating. UBS maintained it with “Buy” rating and $88 target price in Thursday, September 8 report. The firm earned “Buy” rating on Tuesday, June 14 by Guggenheim. The stock of Tractor Supply Company (NASDAQ:TSCO) has “Sector Perform” rating given on Thursday, September 8 by RBC Capital Markets.

According to Zacks Investment Research, “Tractor Supply Company is a specialty retailer which supplies the daily farming and maintenance needs of its target customers: hobby, part-time and full-time farmers and ranchers, as well as rural customers, contractors and tradesmen.”

Insitutional Activity: The institutional sentiment increased to 1.19 in 2016 Q2. Its up 0.24, from 0.95 in 2016Q1. The ratio is positive, as 32 funds sold all Tractor Supply Company shares owned while 177 reduced positions. 56 funds bought stakes while 192 increased positions. They now own 117.30 million shares or 2.04% less from 119.74 million shares in 2016Q1.
Burney accumulated 16,574 shares or 0.11% of the stock. Deere Communication holds 6,003 shares or 0.03% of its portfolio. State Treasurer State Of Michigan has 681,400 shares for 0.49% of their US portfolio. Tiverton Asset Mgmt Ltd Liability Com, a Delaware-based fund reported 104,650 shares. Moreover, Citigroup has 0% invested in Tractor Supply Company (NASDAQ:TSCO) for 34,677 shares. Moreover, Geneva Advsr Ltd Liability has 1.93% invested in Tractor Supply Company (NASDAQ:TSCO) for 1.07M shares. Harvest Capital Strategies Lc, a California-based fund reported 82,000 shares. Segall Bryant And Hamill Limited Liability last reported 13,536 shares in the company. Clearbridge Limited Liability Com last reported 0.02% of its portfolio in the stock. Landscape Cap Management Ltd holds 0.1% or 8,392 shares in its portfolio. Verition Fund Ltd Liability Co has 9,635 shares for 0.11% of their US portfolio. Guardian Life Ins Of America accumulated 0% or 497 shares. The Virginia-based Alexandria Cap Limited Liability has invested 0% in Tractor Supply Company (NASDAQ:TSCO). M&T Bank Corp accumulated 0.01% or 21,792 shares. The Japan-based Dai Ichi Life Limited has invested 0.01% in Tractor Supply Company (NASDAQ:TSCO).

Insider Transactions: Since April 21, 2016, the stock had 0 insider purchases, and 3 selling transactions for $3.42 million net activity. $511,772 worth of Tractor Supply Company (NASDAQ:TSCO) shares were sold by PARRISH BENJAMIN F JR. Crudele Anthony F also sold $1.82M worth of Tractor Supply Company (NASDAQ:TSCO) shares. The insider Barbarick Steve K sold 11,250 shares worth $1.09 million.

More news for Tractor Supply Company (NASDAQ:TSCO) were recently published by: Reuters.com, which released: “BRIEF-Tractor Supply Company reports of Petsense” on September 29, 2016. Seekingalpha.com‘s article titled: “Tractor Supply Company: Unconventional Organic Food Play” and published on October 03, 2016 is yet another important article.

TSCO Company Profile

Tractor Supply Company, incorporated on December 2, 1982, is an operator of rural lifestyle retail stores in the United States. The Firm operates in the retail sale of products that support the rural lifestyle segment. The Firm focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. It operates over 1,490 retail stores in over 50 states under the names Tractor Supply Company, Del’s Feed & Farm Supply and HomeTown Pet. It also operates a Website under the name TractorSupply.com. 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.

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