Tractor Supply Company (TSCO) Rating Increased to Hold at Zacks Investment Research
Tractor Supply Company (NASDAQ:TSCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Tractor Supply has surpassed the industry in the past three months. The company has been gaining from its concentration on store base expansion and omni-channel efforts, which are likely to boost top line. This is evident from Tractor Supply’s focus on its One Tractor initiative and the fact that the company’s Buy Online Pick Up in Store program contributed 55% to online sales in the second quarter. However, Tractor Supply lagged both top and bottom lines in the quarter, following in line earnings in the first quarter. Further, margins were pressurized mainly due to higher freight expenses and SG&A costs. These factors led management to cut its 2017 view. Well, the challenging economic backdrop at the agricultural and energy sectors has been taking a toll on consumer spending, which is a worry for Tractor Supply. Nonetheless, the company witnessed positive trends in early third quarter, thanks to favorable weather conditions.”
TSCO has been the subject of a number of other research reports. BMO Capital Markets set a $57.00 price objective on Tractor Supply and gave the company a “hold” rating in a research note on Tuesday, July 11th. Barclays PLC reissued an “overweight” rating and issued a $70.00 price objective (down previously from $90.00) on shares of Tractor Supply in a research note on Saturday, July 22nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Tractor Supply in a research note on Thursday, July 27th. Telsey Advisory Group reduced their price objective on Tractor Supply from $83.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, July 6th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $54.00 price objective (down previously from $69.00) on shares of Tractor Supply in a research note on Thursday, July 27th. Sixteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.52.
Tractor Supply (TSCO) opened at 62.91 on Tuesday. The firm’s 50-day moving average price is $57.82 and its 200-day moving average price is $59.67. The firm has a market cap of $7.97 billion, a P/E ratio of 19.01 and a beta of 1.30. Tractor Supply has a 52-week low of $49.87 and a 52-week high of $78.25. Tractor Supply also was the recipient of some unusual options trading on Tuesday. Investors bought 1,064 put options on the company. This is an increase of approximately 787% compared to the average daily volume of 120 put options.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.02). Tractor Supply had a net margin of 6.16% and a return on equity of 30.56%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business posted $1.16 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Tractor Supply will post $3.25 EPS for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Tractor Supply by 1.4% in the second quarter. Vanguard Group Inc. now owns 12,519,767 shares of the specialty retailer’s stock valued at $678,696,000 after buying an additional 170,986 shares during the period. BlackRock Inc. raised its stake in shares of Tractor Supply by 1.7% in the second quarter. BlackRock Inc. now owns 7,968,825 shares of the specialty retailer’s stock valued at $431,989,000 after buying an additional 133,235 shares during the period. State Street Corp raised its stake in shares of Tractor Supply by 4.2% in the first quarter. State Street Corp now owns 5,695,059 shares of the specialty retailer’s stock valued at $392,790,000 after buying an additional 230,443 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Tractor Supply by 7,599.1% in the second quarter. Ameriprise Financial Inc. now owns 4,230,168 shares of the specialty retailer’s stock valued at $229,319,000 after buying an additional 4,175,224 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Tractor Supply by 8.6% in the first quarter. William Blair Investment Management LLC now owns 4,098,428 shares of the specialty retailer’s stock valued at $282,669,000 after buying an additional 326,235 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.
Tractor Supply Company Profile
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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