Tractor Supply (TSCO) Raised to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of Tractor Supply (NASDAQ:TSCO) from a market perform rating to an outperform rating in a research report report published on Wednesday, The Fly reports.

TSCO has been the subject of several other research reports. Oppenheimer reiterated a hold rating on shares of Tractor Supply in a research report on Thursday, October 26th. Credit Suisse Group set a $52.00 price objective on Tractor Supply and gave the company a hold rating in a research report on Thursday, October 26th. Robert W. Baird set a $62.00 price objective on Tractor Supply and gave the company a buy rating in a research report on Friday, August 25th. BMO Capital Markets reiterated a hold rating and issued a $61.00 price objective on shares of Tractor Supply in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Tractor Supply from a strong sell rating to a hold rating in a research report on Friday, October 27th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Tractor Supply presently has an average rating of Hold and an average price target of $66.26.

Tractor Supply (NASDAQ TSCO) traded up $0.09 during trading hours on Wednesday, reaching $74.48. The company had a trading volume of 1,153,882 shares, compared to its average volume of 2,365,517. The company has a market cap of $9,340.74, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32. Tractor Supply has a one year low of $49.87 and a one year high of $78.25. The company has a quick ratio of 0.17, a current ratio of 2.00 and a debt-to-equity ratio of 0.38.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. Tractor Supply’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. research analysts anticipate that Tractor Supply will post 3.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 17th. This represents a $1.08 annualized dividend and a dividend yield of 1.45%. Tractor Supply’s dividend payout ratio (DPR) is presently 32.05%.

In other news, CMO Steve K. Barbarick sold 43,076 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $69.03, for a total transaction of $2,973,536.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global X MANAGEMENT CO LLC grew its stake in Tractor Supply by 191.7% in the third quarter. Global X MANAGEMENT CO LLC now owns 1,785 shares of the specialty retailer’s stock worth $113,000 after purchasing an additional 1,173 shares during the period. Commonwealth Bank of Australia grew its stake in Tractor Supply by 15.4% in the second quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 317 shares during the period. Penserra Capital Management LLC purchased a new stake in Tractor Supply in the second quarter worth $139,000. Bristlecone Advisors LLC purchased a new stake in Tractor Supply in the third quarter worth $173,000. Finally, Bronfman E.L. Rothschild L.P. grew its stake in Tractor Supply by 33.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,325 shares of the specialty retailer’s stock worth $180,000 after purchasing an additional 828 shares during the period. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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About Tractor Supply

Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.

The Fly

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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