Evercore ISI Downgrades Tractor Supply (NASDAQ:TSCO) to In-Line

Tractor Supply (NASDAQ:TSCO) was downgraded by stock analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a report released on Thursday, FinViz reports. They presently have a $300.00 price objective on the specialty retailer’s stock. Evercore ISI’s target price would suggest a potential upside of 0.65% from the company’s current price.

Several other analysts have also weighed in on the company. Truist Financial raised their price objective on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research note on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $280.00 price target on shares of Tractor Supply in a report on Monday. Finally, Melius Research started coverage on Tractor Supply in a report on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and a consensus target price of $261.70.

Tractor Supply Stock Up 1.0 %

Tractor Supply stock opened at $298.07 on Thursday. The company’s 50-day moving average price is $270.35 and its two-hundred day moving average price is $268.71. The stock has a market cap of $32.15 billion, a P/E ratio of 29.02, a P/E/G ratio of 3.59 and a beta of 0.80. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $298.36. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.93. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Tractor Supply’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.83 EPS. As a group, analysts expect that Tractor Supply will post 10.23 EPS for the current year.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Tractor Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after purchasing an additional 48,439 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after acquiring an additional 1,784,304 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after acquiring an additional 368,859 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after acquiring an additional 110,342 shares during the period. Finally, Veritas Investment Partners UK Ltd. grew its stake in Tractor Supply by 19.0% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,061,048 shares of the specialty retailer’s stock valued at $228,180,000 after purchasing an additional 169,450 shares during the period. Institutional investors own 98.72% of the company’s stock.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.