Tractor Supply (NASDAQ:TSCO) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Tractor Supply (NASDAQ:TSCO - Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

TSCO has been the subject of a number of other research reports. Raymond James decreased their target price on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Guggenheim lowered their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday, April 25th. Robert W. Baird lowered their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Stephens began coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. Finally, Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Stock Down 2.1%

Shares of NASDAQ:TSCO traded down $1.07 during trading on Friday, hitting $49.08. The company's stock had a trading volume of 1,875,587 shares, compared to its average volume of 5,138,520. The business has a 50 day moving average price of $51.40 and a two-hundred day moving average price of $53.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The company has a market capitalization of $26.02 billion, a PE ratio of 24.00, a P/E/G ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS. As a group, research analysts expect that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has initiated a share buyback plan on Thursday, February 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.87%. Tractor Supply's payout ratio is 45.77%.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors have recently modified their holdings of the company. Hancock Whitney Corp lifted its position in Tractor Supply by 2.0% in the first quarter. Hancock Whitney Corp now owns 9,849 shares of the specialty retailer's stock valued at $543,000 after purchasing an additional 194 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in shares of Tractor Supply by 0.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 66,483 shares of the specialty retailer's stock valued at $3,663,000 after acquiring an additional 208 shares in the last quarter. Wedmont Private Capital increased its stake in Tractor Supply by 2.5% during the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock valued at $450,000 after acquiring an additional 212 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Tractor Supply by 30.1% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 213 shares in the last quarter. Finally, Independent Wealth Network Inc. lifted its position in shares of Tractor Supply by 5.2% during the first quarter. Independent Wealth Network Inc. now owns 4,335 shares of the specialty retailer's stock worth $239,000 after purchasing an additional 215 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.