Tractor Supply (TSCO) Downgraded by Wedbush

Tractor Supply (NASDAQ:TSCO) was downgraded by stock analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report released on Thursday, MarketBeat.com reports. They currently have a $80.00 price target on the specialty retailer’s stock, up from their previous price target of $72.00. Wedbush’s price target indicates a potential upside of 1.87% from the company’s current price.

Several other research firms also recently weighed in on TSCO. BidaskClub upgraded Tractor Supply from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. Zacks Investment Research upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating and set a $89.00 target price on the stock in a research report on Monday. Northcoast Research restated a “buy” rating on shares of Tractor Supply in a research report on Wednesday, January 3rd. TheStreet upgraded Tractor Supply from a “c+” rating to a “b” rating in a research report on Wednesday, December 20th. Finally, Wolfe Research upgraded Tractor Supply from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Sixteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $68.05.

Shares of Tractor Supply (NASDAQ:TSCO) traded down $0.96 on Thursday, reaching $78.53. The company’s stock had a trading volume of 1,432,300 shares, compared to its average volume of 1,388,743. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 2.00. Tractor Supply has a one year low of $49.87 and a one year high of $79.72. The firm has a market capitalization of $9,600.00, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.53 and a beta of 1.31.

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, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $1.72 billion for 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%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. analysts anticipate that Tractor Supply will post 3.28 earnings per share for the current fiscal year.

In related news, CMO Steve K. Barbarick sold 43,076 shares of Tractor Supply 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Windward Capital Management Co. CA purchased a new stake in Tractor Supply in the fourth quarter valued at $241,000. DnB Asset Management AS raised its position in Tractor Supply by 15.7% in the fourth quarter. DnB Asset Management AS now owns 624,300 shares of the specialty retailer’s stock valued at $46,666,000 after purchasing an additional 84,600 shares during the period. Tandem Investment Advisors Inc. raised its position in Tractor Supply by 2.5% in the fourth quarter. Tandem Investment Advisors Inc. now owns 90,181 shares of the specialty retailer’s stock valued at $6,741,000 after purchasing an additional 2,181 shares during the period. Aurora Investment Counsel purchased a new stake in Tractor Supply in the fourth quarter valued at $2,296,000. Finally, Atlantic Trust Group LLC raised its position in Tractor Supply by 1.2% in the third quarter. Atlantic Trust Group LLC now owns 133,871 shares of the specialty retailer’s stock valued at $8,472,000 after purchasing an additional 1,530 shares during the period. Institutional investors own 92.33% of the company’s stock.

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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.

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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