Tractor Supply (NASDAQ:TSCO) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Tractor Supply (NASDAQ:TSCO) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently commented on TSCO. Truist Financial set a $33.00 price target on Tractor Supply and gave the company a “hold” rating in a research report on Monday, October 19th. BNP Paribas Exane lifted their price objective on Tractor Supply from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Robert W. Baird boosted their price objective on Tractor Supply from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 23rd. Argus set a $41.00 price target on shares of Tractor Supply in a research note on Tuesday, July 28th. Finally, Wolfe Research set a $34.00 price target on shares of Tractor Supply in a research note on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.62.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $33.94 on Friday. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 3.52 and a beta of 0.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 1.38. Tractor Supply has a 52 week low of $28.36 and a 52 week high of $56.94. The firm’s 50-day simple moving average is $33.29 and its two-hundred day simple moving average is $38.27.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.82 billion. Tractor Supply had a net margin of 6.13% and a return on equity of 40.05%. Tractor Supply’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. As a group, equities analysts forecast that Tractor Supply will post 1.94 earnings per share for the current year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, August 24th. Tractor Supply’s payout ratio is 51.61%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, Director Edna Morris acquired 1,560 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average price of $32.44 per share, with a total value of $50,606.40. Following the completion of the purchase, the director owned 279,720 shares of the company’s stock, valued at approximately $9,074,116.80. This represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Harry A. Lawton III acquired 15,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average cost of $32.15 per share, with a total value of $501,540.00. Following the purchase, the chief executive officer directly owned 15,600 shares of the company’s stock, valued at $501,540. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 20,310 shares of company stock valued at $652,411. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Tractor Supply in the 2nd quarter worth $1,500,967,000. State Street Corp boosted its position in Tractor Supply by 2.9% during the second quarter. State Street Corp now owns 23,500,716 shares of the specialty retailer’s stock valued at $742,858,000 after purchasing an additional 665,648 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Tractor Supply by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,267,878 shares of the specialty retailer’s stock valued at $238,639,000 after purchasing an additional 89,295 shares in the last quarter. Van ECK Associates Corp boosted its position in Tractor Supply by 2,983.6% during the second quarter. Van ECK Associates Corp now owns 5,144,955 shares of the specialty retailer’s stock valued at $162,632,000 after purchasing an additional 4,978,105 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tractor Supply by 3.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,944,848 shares of the specialty retailer’s stock valued at $156,307,000 after purchasing an additional 150,285 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ:TSCO) is a specialty retailer serving the needs of farmers, ranchers, hobby farmers, pet owners, gardeners and other rural lifestyle customers. The company operates under the Tractor Supply banner and focuses on products that support everyday rural living, land maintenance and animal care.

Its merchandise includes livestock and pet feed, animal health and care products, fencing, hardware, tools, power equipment, lawn and garden supplies, work clothing, footwear, automotive products and seasonal goods.