Tractor Supply Co. (TSCO) Sees Large Decrease in Short Interest
Tractor Supply Co. (NASDAQ:TSCO) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 6,034,569 shares, a drop of 10.1% from the August 31st total of 6,715,887 shares. Based on an average daily trading volume, of 3,781,390 shares, the short-interest ratio is presently 1.6 days. Approximately 4.5% of the company’s shares are short sold.
Shares of Tractor Supply (NASDAQ:TSCO) opened at 66.95 on Wednesday. Tractor Supply has a 12-month low of $66.43 and a 12-month high of $97.25. The firm has a market cap of $8.95 billion, a P/E ratio of 21.47 and a beta of 1.21. The company has a 50-day moving average of $75.80 and a 200 day moving average of $87.83.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Wednesday, July 20th. The company reported $1.16 EPS for the quarter, meeting analysts’ consensus estimates of $1.16. The business earned $1.85 billion during the quarter, compared to analyst estimates of $1.93 billion. Tractor Supply had a return on equity of 30.30% and a net margin of 6.57%. Tractor Supply’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share. Equities analysts predict that Tractor Supply will post $3.24 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of TSCO. Aperio Group LLC raised its position in shares of Tractor Supply by 12.5% in the first quarter. Aperio Group LLC now owns 29,919 shares of the company’s stock worth $2,706,000 after buying an additional 3,314 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in shares of Tractor Supply during the first quarter worth approximately $267,000. Virginia Retirement System purchased a new position in shares of Tractor Supply during the first quarter worth approximately $1,355,000. CIBC World Markets Inc. raised its position in shares of Tractor Supply by 57.5% in the first quarter. CIBC World Markets Inc. now owns 15,271 shares of the company’s stock worth $1,381,000 after buying an additional 5,576 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of Tractor Supply by 6.0% in the first quarter. Teachers Advisors Inc. now owns 374,036 shares of the company’s stock worth $33,835,000 after buying an additional 21,278 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.
Several research firms recently commented on TSCO. JPMorgan Chase & Co. cut their price target on shares of Tractor Supply from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, June 30th. Nomura restated a “buy” rating and issued a $105.00 price target on shares of Tractor Supply in a report on Thursday, June 30th. Credit Suisse Group AG restated an “outperform” rating and issued a $96.00 price target (down previously from $100.00) on shares of Tractor Supply in a report on Thursday, June 30th. Wedbush restated an “outperform” rating and issued a $96.00 price target on shares of Tractor Supply in a report on Thursday, June 30th. Finally, BTIG Research lowered shares of Tractor Supply from a “buy” rating to a “neutral” rating in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Tractor Supply has an average rating of “Hold” and an average price target of $88.37.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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