Tractor Supply (NASDAQ:TSCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Tractor Supply has outperformed the industry in a year, courtesy of its focus on store growth initiatives, ONETractor plan and investment in everyday businesses. The company delivered solid third-quarter 2018 results, which marked an earnings and sales beat in four of the last five quarters. Results gained from robust comps performance driven by ongoing efforts to build customer loyalty and enhance digital capabilities. Moreover, the company’s upbeat outlook for 2018 drives optimism. Further, Tractor Supply is set to gain from robust omni-channel efforts and rewards program. It is also working to strike a balance between initiatives, and investments in stores and distribution centers with strict cost disciplines and operational efficiencies. However, higher SG&A expenses are weighing on margins, which might hurt the company’s profitability. Stiff industry competition and volatility in raw material prices are additional headwinds.”

A number of other research firms have also weighed in on TSCO. BidaskClub lowered shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Royal Bank of Canada upgraded shares of Tractor Supply from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 25th. Bank of America restated a “neutral” rating and set a $90.00 price objective (down from $95.00) on shares of Tractor Supply in a research note on Wednesday, January 9th. Telsey Advisory Group raised their price objective on shares of Tractor Supply from $77.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, October 19th. Finally, Loop Capital lifted their price target on shares of Tractor Supply to $93.00 and gave the stock a “hold” rating in a research note on Friday, October 26th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $89.38.

NASDAQ:TSCO opened at $89.60 on Friday. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.56 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 0.21. Tractor Supply has a fifty-two week low of $58.27 and a fifty-two week high of $97.65.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, October 25th. The specialty retailer reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.82 billion. Tractor Supply had a net margin of 6.54% and a return on equity of 36.23%. Equities research analysts expect that Tractor Supply will post 4.29 earnings per share for the current year.

In other Tractor Supply news, SVP Chad Michael Frazell sold 19,818 shares of Tractor Supply stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $96.65, for a total transaction of $1,915,409.70. Following the transaction, the senior vice president now owns 28,961 shares of the company’s stock, valued at $2,799,080.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert D. Mills sold 20,278 shares of Tractor Supply stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $97.10, for a total transaction of $1,968,993.80. Following the transaction, the executive vice president now directly owns 31,826 shares in the company, valued at approximately $3,090,304.60. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Cordasco Financial Network raised its position in shares of Tractor Supply by 53.6% during the fourth quarter. Cordasco Financial Network now owns 338 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 118 shares during the last quarter. Tributary Capital Management LLC bought a new stake in Tractor Supply in the fourth quarter worth $58,000. Columbia Asset Management bought a new stake in Tractor Supply in the third quarter worth $120,000. Stratos Wealth Partners LTD. bought a new stake in Tractor Supply in the third quarter worth $142,000. Finally, Private Capital Group LLC increased its position in Tractor Supply by 66.1% during the third quarter. Private Capital Group LLC now owns 1,648 shares of the specialty retailer’s stock valued at $149,000 after acquiring an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 81.78% of the company’s stock.

About Tractor Supply

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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