Tractor Supply (NASDAQ:TSCO) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Tractor Supply (NASDAQ:TSCO) from a buy rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

A number of other equities analysts have also recently weighed in on the company. Piper Jaffray Companies increased their price target on Tractor Supply from $114.00 to $125.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. ValuEngine cut Tractor Supply from a buy rating to a hold rating in a report on Thursday, August 1st. Royal Bank of Canada set a $123.00 price target on Tractor Supply and gave the stock a buy rating in a report on Friday, July 26th. Goldman Sachs Group began coverage on Tractor Supply in a report on Thursday, July 11th. They set a buy rating and a $122.00 price target for the company. Finally, Morgan Stanley increased their price target on Tractor Supply from $112.00 to $115.00 and gave the stock an equal weight rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $107.53.

NASDAQ TSCO opened at $96.18 on Friday. The stock has a market cap of $11.58 billion, a PE ratio of 22.32, a P/E/G ratio of 1.82 and a beta of 1.10. The company has a current ratio of 1.52, a quick ratio of 0.16 and a debt-to-equity ratio of 1.57. Tractor Supply has a twelve month low of $78.67 and a twelve month high of $114.25. The stock has a fifty day simple moving average of $102.63 and a 200-day simple moving average of $102.68.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Tractor Supply had a return on equity of 36.12% and a net margin of 6.71%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.69 earnings per share. Research analysts predict that Tractor Supply will post 4.75 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, August 23rd. Tractor Supply’s payout ratio is 32.48%.

In related news, SVP Chad Michael Frazell sold 17,857 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $110.04, for a total transaction of $1,964,984.28. Following the transaction, the senior vice president now owns 31,004 shares of the company’s stock, valued at approximately $3,411,680.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Icon Wealth Partners LLC acquired a new stake in Tractor Supply in the 1st quarter valued at about $27,000. CSat Investment Advisory L.P. raised its position in Tractor Supply by 46.4% in the 2nd quarter. CSat Investment Advisory L.P. now owns 429 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 136 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in Tractor Supply by 255.9% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 484 shares of the specialty retailer’s stock valued at $52,000 after purchasing an additional 348 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in Tractor Supply in the 1st quarter valued at about $53,000. Finally, Manchester Capital Management LLC raised its position in Tractor Supply by 54.8% in the 1st quarter. Manchester Capital Management LLC now owns 565 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 200 shares in the last quarter. 82.76% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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