Tractor Supply (NASDAQ:TSCO) Stock Rating Cut to "In-Line" at Evercore

Tractor Supply (NASDAQ:TSCO - Get Free Report) was downgraded by stock analysts at Evercore from an "outperform" rating to an "in-line" rating in a report issued on Friday, FinViz reports. They currently have a $38.00 price objective on the specialty retailer's stock, down from their previous price objective of $40.00. Evercore's price target suggests a potential upside of 3.74% from the stock's current price.

TSCO has been the topic of a number of other reports. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, October 31st. BNP Paribas Exane raised their price objective on Tractor Supply from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Friday, October 23rd. Wells Fargo & Company reissued an "overweight" rating and issued a $36.00 target price (up from $35.00) on shares of Tractor Supply in a report on Monday, October 19th. Morgan Stanley restated a "negative" rating and issued a $35.00 price target on shares of Tractor Supply in a research note on Friday, July 24th. Finally, Zacks Research raised shares of Tractor Supply from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $38.54.

Tractor Supply Stock Down 0.3%

NASDAQ TSCO opened at $36.63 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.20 and a debt-to-equity ratio of 0.86. Tractor Supply has a 1-year low of $28.36 and a 1-year high of $56.94. The company has a 50 day moving average of $33.55 and a 200-day moving average of $37.55. The company has a market cap of $19.00 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.84 and a beta of 0.49.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. Tractor Supply had a return on equity of 40.05% and a net margin of 6.13%. The business had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.82 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Tractor Supply will post 1.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Tractor Supply during the second quarter valued at about $1,500,967,000. State Street Corp increased its stake in shares of Tractor Supply by 2.9% in the second quarter. State Street Corp now owns 23,500,716 shares of the specialty retailer's stock valued at $742,858,000 after buying an additional 665,648 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 valued at $238,639,000 after buying an additional 89,295 shares during the period. Van ECK Associates Corp raised its holdings in Tractor Supply by 2,983.6% in the 2nd quarter. Van ECK Associates Corp now owns 5,144,955 shares of the specialty retailer's stock valued at $162,632,000 after buying an additional 4,978,105 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tractor Supply by 3.1% in the 2nd 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 buying an additional 150,285 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Company Profile

Tractor Supply Company is a U.S. retailer focused on the needs of rural communities, farmers, ranchers, and outdoor enthusiasts. Its stores and e-commerce business sell products for livestock and pets, including animal feed and supplies, as well as equine goods, fencing, tools, hardware, lawn and garden products, workwear, and seasonal merchandise. The company also operates Petsense, a specialty pet-supply retailer. Tractor Supply serves customers across the United States through its retail stores and digital channels.

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