Tractor Supply (NASDAQ:TSCO) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Tractor Supply from “sell” to “hold,” aligning with the broader analyst consensus of “Hold” and an average price target of $38.62.
• Tractor Supply beat quarterly expectations, reporting $0.43 in earnings per share versus the $0.41 consensus estimate and $3.91 billion in revenue, up 5.1% year over year.
• Insiders purchased $652,411 worth of shares during the latest quarter, while institutional investors own 98.72% of the company’s stock.

Tractor Supply (NASDAQ:TSCO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also commented on the company. UBS Group reiterated a "neutral" rating on shares of Tractor Supply in a report on Monday, October 12th. Robert W. Baird upped 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. JPMorgan Chase & Co. raised their target price on Tractor Supply from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, October 23rd. Argus set a $41.00 target price on Tractor Supply in a research report on Tuesday, July 28th. Finally, Truist Financial set a $33.00 target price on Tractor Supply and gave the stock a "hold" rating in a research note on Monday, October 19th. Thirteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $38.62.

Tractor Supply Trading Up 0.9%

NASDAQ:TSCO opened at $33.94 on Friday. Tractor Supply has a 52 week low of $28.36 and a 52 week high of $56.94. The firm has a 50-day moving average price of $33.29 and a two-hundred day moving average price of $38.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 1.38. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 3.49 and a beta of 0.52.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.82 billion. Tractor Supply had a return on equity of 40.05% and a net margin of 6.13%. The company's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. On average, equities analysts expect that Tractor Supply will post 1.94 earnings per share for the current fiscal year.

Insider Activity at Tractor Supply

In other news, Director Andre J. Hawaux bought 3,150 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was acquired at an average cost of $31.83 per share, with a total value of $100,264.50. Following the completion of the transaction, the director directly owned 3,150 shares of the company's stock, valued at $100,264.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Harry A. Lawton III bought 15,600 shares of the stock in a transaction on Tuesday, August 4th. The stock was purchased at an average price of $32.15 per share, for a total transaction of $501,540.00. Following the completion of the purchase, the chief executive officer owned 15,600 shares of the company's stock, valued at approximately $501,540. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 20,310 shares of company stock worth $652,411. Insiders own 0.64% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Tractor Supply during the 2nd quarter worth $1,500,967,000. State Street Corp grew its position in Tractor Supply by 2.9% in the second quarter. State Street Corp now owns 23,500,716 shares of the specialty retailer's stock worth $742,858,000 after acquiring an additional 665,648 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Tractor Supply by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,267,878 shares of the specialty retailer's stock worth $238,639,000 after acquiring an additional 89,295 shares in the last quarter. Van ECK Associates Corp grew its position in Tractor Supply by 2,983.6% in the second quarter. Van ECK Associates Corp now owns 5,144,955 shares of the specialty retailer's stock worth $162,632,000 after acquiring an additional 4,978,105 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 acquiring an additional 150,285 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

About Tractor Supply

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.

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