Tractor Supply (NASDAQ:TSCO) Short Interest Up 12.8% in October

Tractor Supply (NASDAQ:TSCO) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,670,000 shares, an increase of 12.8% from the September 30th total of 4,140,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 3.1 days.

Tractor Supply stock traded up $0.24 during trading hours on Wednesday, hitting $96.87. The company had a trading volume of 95,400 shares, compared to its average volume of 1,368,245. The firm has a market cap of $11.31 billion, a PE ratio of 22.55, a PEG ratio of 1.82 and a beta of 1.03. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.60 and a quick ratio of 0.15. Tractor Supply has a one year low of $78.67 and a one year high of $114.25. The firm has a 50-day moving average of $93.70 and a 200 day moving average of $101.81.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, October 24th. The specialty retailer reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. Tractor Supply had a net margin of 6.69% and a return on equity of 36.64%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. As a group, research analysts expect that Tractor Supply will post 4.71 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Tractor Supply by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 12,763,308 shares of the specialty retailer’s stock worth $1,388,648,000 after purchasing an additional 95,052 shares in the last quarter. BlackRock Inc. boosted its position in shares of Tractor Supply by 2.0% during the 2nd quarter. BlackRock Inc. now owns 9,529,219 shares of the specialty retailer’s stock worth $1,036,779,000 after acquiring an additional 182,508 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Tractor Supply by 8.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,791,079 shares of the specialty retailer’s stock worth $252,426,000 after acquiring an additional 226,050 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Tractor Supply by 2.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,249,438 shares of the specialty retailer’s stock worth $244,739,000 after acquiring an additional 50,565 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Tractor Supply by 11.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,771,296 shares of the specialty retailer’s stock worth $192,717,000 after acquiring an additional 186,161 shares in the last quarter. 82.76% of the stock is currently owned by hedge funds and other institutional investors.

TSCO has been the topic of a number of research analyst reports. Nomura initiated coverage on shares of Tractor Supply in a report on Friday, November 8th. They issued a “neutral” rating and a $100.00 target price on the stock. Royal Bank of Canada set a $123.00 target price on shares of Tractor Supply and gave the company a “buy” rating in a report on Friday, July 26th. Robert W. Baird dropped their target price on shares of Tractor Supply from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley upped their target price on shares of Tractor Supply from $112.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. Finally, BidaskClub cut shares of Tractor Supply from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Twelve analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Tractor Supply presently has a consensus rating of “Buy” and an average price target of $108.19.

Tractor Supply Company Profile

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.

Further Reading: Bid-Ask Spread

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