Tractor Supply (TSCO) Raised to “Overweight” at Piper Jaffray

Tractor Supply (NASDAQ:TSCO) was upgraded by research analysts at Piper Jaffray from a “neutral” rating to an “overweight” rating in a report released on Friday, The Fly reports.

Several other brokerages also recently weighed in on TSCO. Oppenheimer reissued a “hold” rating on shares of Tractor Supply in a research note on Thursday, February 1st. Zacks Investment Research downgraded shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Telsey Advisory Group downgraded shares of Tractor Supply from an “outperform” rating to a “market perform” rating and increased their target price for the company from $62.00 to $83.00 in a research note on Thursday, January 25th. They noted that the move was a valuation call. BidaskClub downgraded shares of Tractor Supply from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Bank of America downgraded shares of Tractor Supply from a “buy” rating to an “underperform” rating in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $73.68.

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Shares of TSCO opened at $59.88 on Friday. Tractor Supply has a twelve month low of $49.87 and a twelve month high of $82.68. The firm has a market capitalization of $7,514.37, a PE ratio of 17.98, a PEG ratio of 1.12 and a beta of 1.28. The company has a current ratio of 1.95, a quick ratio of 0.24 and a debt-to-equity ratio of 0.31.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Wednesday, January 31st. The specialty retailer reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.04. Tractor Supply had a net margin of 5.82% and a return on equity of 30.81%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. equities research analysts predict that Tractor Supply will post 4.09 earnings per share for the current year.

In related news, Director Edna Morris sold 1,054 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $67.07, for a total value of $70,691.78. Following the transaction, the director now owns 10,949 shares of the company’s stock, valued at approximately $734,349.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of TSCO. Calton & Associates Inc. purchased a new position in Tractor Supply during the 4th quarter valued at about $109,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Tractor Supply during the 4th quarter valued at about $187,000. Kennedy Capital Management Inc. purchased a new position in Tractor Supply during the 4th quarter valued at about $204,000. Advisor Partners LLC purchased a new position in Tractor Supply during the 4th quarter valued at about $207,000. Finally, Kelman Lazarov Inc. purchased a new position in Tractor Supply during the 4th quarter valued at about $209,000. 84.10% of the stock is currently owned by institutional investors.

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About Tractor Supply

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm and ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The company operates its retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

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