Tractor Supply (NASDAQ:TSCO) Raised to Hold at Wall Street Zen

Tractor Supply (NASDAQ:TSCO) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Tractor Supply from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Guggenheim set a $40.00 price target on Tractor Supply and gave the stock a “buy” rating in a research note on Friday, July 24th. Morgan Stanley reaffirmed a “negative” rating and set a $35.00 price objective on shares of Tractor Supply in a research report on Friday, July 24th. DA Davidson set a $36.00 price target on shares of Tractor Supply in a report on Thursday, October 8th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $36.00 target price (up from $34.00) on shares of Tractor Supply in a research report on Friday, October 23rd. Thirteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.62.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $33.94 on Friday. Tractor Supply has a 52 week low of $28.36 and a 52 week high of $56.94. The company has a quick ratio of 0.20, a current ratio of 1.38 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $33.29 and a 200 day moving average price of $38.27. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 3.52 and a beta of 0.49.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.82 billion. Tractor Supply had a net margin of 6.13% and a return on equity of 40.05%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. Equities research analysts anticipate that Tractor Supply will post 1.94 EPS for the current fiscal year.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry Lawton, III acquired 15,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $32.15 per share, for a total transaction of $501,540.00. Following the completion of the acquisition, the chief executive officer owned 15,600 shares of the company’s stock, valued at approximately $501,540. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edna Morris bought 1,560 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average price of $32.44 per share, for a total transaction of $50,606.40. Following the acquisition, the director directly owned 279,720 shares of the company’s stock, valued at approximately $9,074,116.80. The trade was a 0.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

A number of large investors have recently modified their holdings of TSCO. IFP Advisors Inc increased its position in Tractor Supply by 423.8% during the 2nd quarter. IFP Advisors Inc now owns 36,280 shares of the specialty retailer’s stock valued at $1,147,000 after purchasing an additional 29,354 shares during the period. Tidal Investments LLC raised its holdings in shares of Tractor Supply by 71.9% in the 2nd quarter. Tidal Investments LLC now owns 172,799 shares of the specialty retailer’s stock valued at $5,462,000 after purchasing an additional 72,284 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Tractor Supply during the second quarter worth about $28,733,000. Nykredit A S acquired a new position in shares of Tractor Supply during the 2nd quarter worth $6,691,000. Finally, BlackRock Inc. purchased a new stake in shares of Tractor Supply during the second quarter worth about $1,500,967,000. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ:TSCO) is a specialty retailer serving the needs of farmers, ranchers, hobby farmers, pet owners, gardeners and other rural lifestyle customers. The company operates under the Tractor Supply banner and focuses on products that support everyday rural living, land maintenance and animal care.

Its merchandise includes livestock and pet feed, animal health and care products, fencing, hardware, tools, power equipment, lawn and garden supplies, work clothing, footwear, automotive products and seasonal goods.