Tractor Supply (NASDAQ:TSCO) Downgraded to “In-Line” at Evercore ISI

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

Several other brokerages also recently issued reports on TSCO. Wedbush reissued a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a research note on Friday, July 26th. Benchmark reiterated a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a research report on Monday. Melius Research began coverage on shares of Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 target price for the company. Truist Financial lifted their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Loop Capital boosted their price target on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of “Hold” and a consensus price target of $261.70.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $298.07 on Thursday. The company has a market capitalization 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 1-year low of $185.00 and a 1-year high of $298.36. The firm’s 50 day simple moving average is $270.35 and its two-hundred day simple moving average is $268.71. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

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

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction 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 approximately $1,356,349.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. Bank of Nova Scotia increased its position in shares of Tractor Supply by 32.7% during the fourth quarter. Bank of Nova Scotia now owns 16,098 shares of the specialty retailer’s stock worth $3,461,000 after acquiring an additional 3,965 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Tractor Supply by 3.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 108,703 shares of the specialty retailer’s stock worth $23,374,000 after purchasing an additional 3,552 shares during the period. NEOS Investment Management LLC bought a new stake in Tractor Supply during the 4th quarter valued at $328,000. Rafferty Asset Management LLC lifted its holdings in shares of Tractor Supply by 8.8% in the 4th quarter. Rafferty Asset Management LLC now owns 11,938 shares of the specialty retailer’s stock worth $2,567,000 after buying an additional 968 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Tractor Supply by 0.6% during the 4th quarter. First Trust Advisors LP now owns 361,938 shares of the specialty retailer’s stock worth $77,828,000 after buying an additional 2,329 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Company Profile

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.