Tractor Supply Co. (TSCO) Upgraded at Northcoast Research
Tractor Supply Co. (NASDAQ:TSCO) was upgraded by analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.
A number of other research analysts also recently commented on TSCO. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of Tractor Supply in a research note on Friday, August 5th. Wedbush reissued an “outperform” rating and set a $96.00 target price on shares of Tractor Supply in a research note on Friday, August 12th. Zacks Investment Research raised Tractor Supply from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Morgan Stanley reissued a “hold” rating and set a $95.00 target price on shares of Tractor Supply in a research note on Tuesday, September 6th. Finally, Royal Bank Of Canada cut Tractor Supply from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $100.00 to $79.00 in a report on Thursday, September 8th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.95.
Tractor Supply (NASDAQ:TSCO) traded down 0.48% during trading on Tuesday, hitting $74.56. 755,035 shares of the company traded hands. The firm has a market capitalization of $9.79 billion, a P/E ratio of 23.66 and a beta of 1.23. Tractor Supply has a 12-month low of $61.50 and a 12-month high of $97.25. The stock has a 50-day moving average price of $68.00 and a 200-day moving average price of $81.34.
Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Wednesday, October 19th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. Tractor Supply had a return on equity of 29.78% and a net margin of 6.53%. The company earned $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Tractor Supply will post $3.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Monday, November 14th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $0.96 annualized dividend and a dividend yield of 1.29%. Tractor Supply’s payout ratio is currently 30.48%.
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In other Tractor Supply news, Director Mark J. Weikel purchased 1,000 shares of the stock in a transaction on Thursday, November 3rd. The shares were purchased at an average price of $66.14 per share, with a total value of $66,140.00. Following the acquisition, the director now directly owns 5,627 shares in the company, valued at approximately $372,169.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in TSCO. Alliancebernstein L.P. boosted its position in shares of Tractor Supply by 58.8% in the second quarter. Alliancebernstein L.P. now owns 1,980,756 shares of the company’s stock worth $180,605,000 after buying an additional 733,533 shares in the last quarter. Columbus Circle Investors boosted its position in shares of Tractor Supply by 63.9% in the second quarter. Columbus Circle Investors now owns 529,259 shares of the company’s stock worth $48,258,000 after buying an additional 206,260 shares in the last quarter. BARING ASSET MANAGEMENT Ltd boosted its position in shares of Tractor Supply by 7.3% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 115,031 shares of the company’s stock worth $10,489,000 after buying an additional 7,784 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Tractor Supply by 0.6% in the third quarter. Arizona State Retirement System now owns 32,900 shares of the company’s stock worth $2,216,000 after buying an additional 200 shares in the last quarter. Finally, Kalmar Investments Inc. DE boosted its position in shares of Tractor Supply by 26.0% in the second quarter. Kalmar Investments Inc. DE now owns 288,860 shares of the company’s stock worth $26,338,000 after buying an additional 59,660 shares in the last quarter. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
Tractor Supply Company Profile
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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