Tractor Supply (NASDAQ:TSCO) Sees Large Increase in Short Interest

Tractor Supply (NASDAQ:TSCO) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 2,590,000 shares, a growth of 14.6% from the December 15th total of 2,260,000 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is currently 2.0 days.

A number of equities analysts recently issued reports on TSCO shares. Nomura began coverage on shares of Tractor Supply in a research report on Friday, November 8th. They issued a “neutral” rating and a $100.00 price target for the company. Robert W. Baird lowered their price objective 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. Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective (down from $120.00) on shares of Tractor Supply in a research note on Friday, September 20th. BidaskClub lowered shares of Tractor Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 8th. Finally, Wedbush reiterated an “outperform” rating and set a $115.00 price objective (up from $105.00) on shares of Tractor Supply in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $108.68.

Shares of TSCO stock traded up $0.49 during trading on Wednesday, reaching $90.67. 164,673 shares of the company’s stock traded hands, compared to its average volume of 1,433,933. The company has a market capitalization of $10.68 billion, a P/E ratio of 21.04, a PEG ratio of 1.54 and a beta of 1.00. The company has a current ratio of 1.60, a quick ratio of 0.15 and a debt-to-equity ratio of 1.75. The firm’s 50-day moving average is $93.70 and its 200 day moving average is $98.88. Tractor Supply has a 1 year low of $82.62 and a 1 year high of $114.25.

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

In other Tractor Supply news, EVP Benjamin F. Parrish, Jr. sold 300 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $98.48, for a total value of $29,544.00. Following the completion of the sale, the executive vice president now owns 26,022 shares of the company’s stock, valued at $2,562,646.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Chad Michael Frazell sold 13,441 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $98.49, for a total value of $1,323,804.09. Company insiders own 1.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. Schroder Investment Management Group increased its position in shares of Tractor Supply by 50.9% during the 2nd quarter. Schroder Investment Management Group now owns 200,637 shares of the specialty retailer’s stock worth $21,829,000 after purchasing an additional 67,647 shares during the last quarter. Keudell Morrison Wealth Management purchased a new stake in Tractor Supply in the second quarter valued at approximately $2,623,000. MML Investors Services LLC grew its stake in shares of Tractor Supply by 1.6% in the second quarter. MML Investors Services LLC now owns 17,529 shares of the specialty retailer’s stock valued at $1,907,000 after buying an additional 271 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Tractor Supply by 68.4% in the 2nd quarter. APG Asset Management N.V. now owns 359,062 shares of the specialty retailer’s stock valued at $34,304,000 after buying an additional 145,900 shares during the period. Finally, Profund Advisors LLC raised its holdings in shares of Tractor Supply by 14.6% in the 2nd quarter. Profund Advisors LLC now owns 4,026 shares of the specialty retailer’s stock valued at $438,000 after buying an additional 514 shares during the period. Hedge funds and other institutional investors own 83.22% of the company’s stock.

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.

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