Tractor Supply (NASDAQ:TSCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tractor Supply (NASDAQ:TSCO) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

TSCO has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Telsey Advisory Group restated an “outperform” rating and issued a $40.00 price objective (up from $38.00) on shares of Tractor Supply in a report on Friday, October 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $38.00 price objective (down from $43.00) on shares of Tractor Supply in a research report on Friday, July 24th. Raymond James Financial cut their target price on Tractor Supply from $48.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $36.00 target price (up from $35.00) on shares of Tractor Supply in a research note on Monday, October 19th. Thirteen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.62.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $35.31 on Friday. Tractor Supply has a one year low of $28.36 and a one year high of $56.94. The company’s 50-day moving average is $33.30 and its 200 day moving average is $38.19. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 3.28 and a beta of 0.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 1.38.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business 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%. Tractor Supply’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Sell-side analysts expect that Tractor Supply will post 1.94 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, August 24th. Tractor Supply’s payout ratio is presently 51.61%.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Tractor Supply in the 2nd quarter worth $1,500,967,000. Van ECK Associates Corp raised its holdings in Tractor Supply by 2,983.6% during the second quarter. Van ECK Associates Corp now owns 5,144,955 shares of the specialty retailer’s stock valued at $162,632,000 after acquiring an additional 4,978,105 shares during the period. Legal & General Group Plc bought a new stake in Tractor Supply during the second quarter valued at about $110,137,000. Bank of America Corp DE purchased a new position in shares of Tractor Supply in the second quarter valued at about $105,502,000. Finally, Deutsche Bank AG purchased a new position in shares of Tractor Supply in the second quarter valued at about $103,881,000. Hedge funds and other 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.