Zacks Investment Research upgraded shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a strong-buy rating in a research report released on Monday, January 8th. Zacks Investment Research currently has $89.00 target price on the specialty retailer’s stock.
According to Zacks, “Tractor Supply remains focused on its store growth initiatives, which has helped the company to surpass the industry in the past three months. Further, the company is set to gain from its solid omni-channel efforts, with its Buy Online Pick Up in Store plan in particular. This also fueled Tractor Supply’s third-quarter 2017 results, wherein it topped earnings and sales estimates, alongside maintaining its year-over-year growth trend. Results gained from solid comps, which were driven by strength across all regions and major product categories. Moreover, higher demand for cold weather products keeps the company well positioned for the fall and winter season. These trends encouraged management to raised 2017 view. However, deflation was a headwind in the third quarter, which is expected to linger in 2017. Furthermore, management expects SG&A expense deleverage in the fourth quarter, where gross margin is also likely to be pressurized.”
Other research analysts have also issued research reports about the stock. BidaskClub raised shares of Tractor Supply from a buy rating to a strong-buy rating in a research note on Saturday, January 6th. Northcoast Research reissued a buy rating on shares of Tractor Supply in a research report on Wednesday, January 3rd. TheStreet raised shares of Tractor Supply from a c+ rating to a b rating in a research report on Wednesday, December 20th. Wolfe Research raised shares of Tractor Supply from a market perform rating to an outperform rating in a research report on Wednesday, December 20th. Finally, Moffett Nathanson started coverage on shares of Tractor Supply in a report on Monday, December 4th. They set a neutral rating on the stock. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Tractor Supply has a consensus rating of Hold and an average target price of $72.85.
Tractor Supply (NASDAQ:TSCO) traded down $3.57 on Monday, reaching $67.87. 4,532,808 shares of the company’s stock traded hands, compared to its average volume of 1,880,000. Tractor Supply has a 52-week low of $49.87 and a 52-week high of $82.68. The company has a quick ratio of 0.17, a current ratio of 2.00 and a debt-to-equity ratio of 0.38. The firm has a market cap of $8,520.00, a PE ratio of 20.50, a PEG ratio of 1.41 and a beta of 1.17.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, January 31st. The specialty retailer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Tractor Supply had a net margin of 5.82% and a return on equity of 31.03%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the company earned $0.94 EPS. Tractor Supply’s revenue was up 1.9% on a year-over-year basis. sell-side analysts expect that Tractor Supply will post 3.92 EPS for the current fiscal year.
In other news, CMO Steve K. Barbarick sold 43,076 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $69.03, for a total value of $2,973,536.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Tractor Supply by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 449,218 shares of the specialty retailer’s stock valued at $24,353,000 after buying an additional 29,650 shares during the period. Virginia Retirement Systems ET AL increased its position in Tractor Supply by 4.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 4,300 shares of the specialty retailer’s stock valued at $233,000 after purchasing an additional 200 shares during the period. Victory Capital Management Inc. increased its position in Tractor Supply by 17.0% during the 2nd quarter. Victory Capital Management Inc. now owns 18,660 shares of the specialty retailer’s stock valued at $1,012,000 after purchasing an additional 2,709 shares during the period. Pacer Advisors Inc. increased its position in Tractor Supply by 12.7% during the 2nd quarter. Pacer Advisors Inc. now owns 4,690 shares of the specialty retailer’s stock valued at $254,000 after purchasing an additional 529 shares during the period. Finally, Tredje AP fonden increased its position in Tractor Supply by 2.8% during the 2nd quarter. Tredje AP fonden now owns 9,580 shares of the specialty retailer’s stock valued at $519,000 after purchasing an additional 260 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.
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About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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