Tractor Supply (TSCO) Cut to “Buy” at BidaskClub

BidaskClub lowered shares of Tractor Supply (NASDAQ:TSCO) from a strong-buy rating to a buy rating in a research report released on Friday morning.

Several other brokerages have also commented on TSCO. Zacks Investment Research upgraded shares of Tractor Supply from a hold rating to a buy rating and set a $97.00 price objective on the stock in a report on Tuesday, August 28th. ValuEngine lowered shares of Tractor Supply from a buy rating to a hold rating in a report on Tuesday, July 3rd. Morgan Stanley upped their price objective on shares of Tractor Supply from $70.00 to $75.00 and gave the stock an equal weight rating in a report on Friday, July 27th. Gordon Haskett initiated coverage on shares of Tractor Supply in a report on Wednesday, June 20th. They set an accumulate rating and a $86.00 target price on the stock. Finally, Wells Fargo & Co reiterated a buy rating on shares of Tractor Supply in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $81.60.

Shares of TSCO stock opened at $87.65 on Friday. The company has a current ratio of 1.92, a quick ratio of 0.19 and a debt-to-equity ratio of 0.39. Tractor Supply has a one year low of $54.76 and a one year high of $92.45. The company has a market capitalization of $11.07 billion, a PE ratio of 26.32, a P/E/G ratio of 1.69 and a beta of 1.39.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, July 26th. The specialty retailer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. Tractor Supply had a net margin of 6.34% and a return on equity of 35.24%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts expect that Tractor Supply will post 4.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 11th. Shareholders of record on Monday, August 27th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, August 24th. This represents a $1.24 dividend on an annualized basis and a yield of 1.41%. Tractor Supply’s dividend payout ratio (DPR) is presently 37.24%.

In other Tractor Supply news, EVP Benjamin F. Parrish, Jr. sold 25,252 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $89.62, for a total value of $2,263,084.24. Following the sale, the executive vice president now directly owns 28,700 shares of the company’s stock, valued at approximately $2,572,094. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Steve K. Barbarick sold 21,257 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $89.12, for a total transaction of $1,894,423.84. Following the completion of the sale, the chief operating officer now directly owns 78,210 shares in the company, valued at $6,970,075.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,676 shares of company stock worth $20,846,977. 1.60% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in TSCO. Piedmont Investment Advisors LLC purchased a new stake in shares of Tractor Supply in the 2nd quarter valued at approximately $106,000. Qube Research & Technologies Ltd purchased a new stake in shares of Tractor Supply in the 2nd quarter valued at approximately $130,000. Steward Partners Investment Advisory LLC increased its position in shares of Tractor Supply by 118.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,751 shares of the specialty retailer’s stock valued at $134,000 after purchasing an additional 951 shares during the last quarter. NumerixS Investment Technologies Inc increased its position in shares of Tractor Supply by 58.3% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the specialty retailer’s stock valued at $148,000 after purchasing an additional 700 shares during the last quarter. Finally, WealthTrust Axiom LLC purchased a new stake in shares of Tractor Supply in the 2nd quarter valued at approximately $201,000. 81.72% of the stock is currently owned by institutional investors.

About Tractor Supply

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

Featured Article: Return on Investment (ROI) Defined, Explained

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

Receive News & Ratings for Tractor Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tractor Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply