Tractor Supply Co. (TSCO) Rating Increased to Buy at Northcoast Research
Tractor Supply Co. (NASDAQ:TSCO) was upgraded by Northcoast Research from a “neutral” rating to a “buy” rating in a report released on Tuesday.
Several other research analysts also recently weighed in on the company. Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of Tractor Supply in a research note on Friday, August 5th. Zacks Investment Research upgraded Tractor Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Morgan Stanley reiterated a “hold” rating and set a $95.00 price target on shares of Tractor Supply in a research note on Tuesday, September 6th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $73.00 price target (down previously from $77.00) on shares of Tractor Supply in a research note on Saturday, October 22nd. Finally, Barclays PLC reissued an “overweight” rating and set a $90.00 price objective on shares of Tractor Supply in a report on Friday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $85.95.
Tractor Supply (NASDAQ:TSCO) opened at 75.07 on Tuesday. The firm has a 50-day moving average price of $68.00 and a 200-day moving average price of $81.34. The company has a market cap of $9.85 billion, a PE ratio of 23.82 and a beta of 1.23. Tractor Supply has a 52-week low of $61.50 and a 52-week high of $97.25.
Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The company earned $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Tractor Supply had a return on equity of 29.78% and a net margin of 6.53%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts forecast that Tractor Supply will post $3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th were given a $0.24 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. Tractor Supply’s dividend payout ratio is currently 30.48%.
In other Tractor Supply news, Director Mark J. Weikel acquired 1,000 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were purchased at an average cost of $66.14 per share, for a total transaction of $66,140.00. Following the transaction, the director now owns 5,627 shares in the company, valued at $372,169.78. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Hanson McClain Inc. purchased a new stake in Tractor Supply during the second quarter valued at $104,000. Penserra Capital Management LLC raised its stake in Tractor Supply by 95.5% in the third quarter. Penserra Capital Management LLC now owns 1,548 shares of the company’s stock valued at $104,000 after buying an additional 756 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in Tractor Supply during the second quarter valued at $111,000. Fuller & Thaler Asset Management Inc. raised its stake in Tractor Supply by 70.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,700 shares of the company’s stock valued at $114,000 after buying an additional 700 shares in the last quarter. Finally, Seven Eight Capital LLC purchased a new stake in Tractor Supply during the first quarter valued at $123,000. Hedge funds and other institutional investors own 90.57% of the company’s stock.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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