Evercore ISI Downgrades Tractor Supply (NASDAQ:TSCO) to In-Line

Evercore ISI cut shares of Tractor Supply (NASDAQ:TSCO) from an outperform rating to an in-line rating in a research note released on Thursday, MarketBeat reports. The brokerage currently has $300.00 target price on the specialty retailer’s stock.

Several other equities research analysts also recently weighed in on TSCO. Telsey Advisory Group reissued an outperform rating and issued a $305.00 price objective on shares of Tractor Supply in a report on Thursday, July 25th. Loop Capital increased their price objective on Tractor Supply from $250.00 to $260.00 and gave the company a hold rating in a report on Friday, September 6th. Melius Research initiated coverage on Tractor Supply in a research note on Monday, September 23rd. They set a buy rating and a $315.00 price target for the company. Truist Financial increased their price objective on Tractor Supply from $289.00 to $293.00 and gave the stock a buy rating in a research report on Friday, July 26th. Finally, Benchmark reiterated a buy rating and issued a $280.00 price objective on shares of Tractor Supply in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of Hold and an average price target of $261.70.

Tractor Supply Stock Performance

Shares of TSCO opened at $294.97 on Thursday. The company has a market capitalization of $31.80 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 3.74 and a beta of 0.80. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $298.36. The stock has a 50 day moving average price of $271.68 and a 200 day moving average price of $269.23. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.83 earnings per share. Research analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, August 26th. Tractor Supply’s payout ratio is currently 42.84%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently bought and sold shares of TSCO. Future Financial Wealth Managment LLC acquired a new position in Tractor Supply during the 1st quarter worth approximately $26,000. Rise Advisors LLC raised its position in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Tractor Supply in the 1st quarter valued at approximately $28,000. J.Safra Asset Management Corp raised its position in shares of Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 98 shares in the last quarter. Finally, Whittier Trust Co. raised its position in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

About Tractor Supply

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.