Tractor Supply (NASDAQ:TSCO) Downgraded by Evercore to In-Line

Evercore downgraded shares of Tractor Supply (NASDAQ:TSCO – Free Report) from an outperform rating to an in-line rating in a report released on Friday morning, MarketBeat.com reports. The brokerage currently has $38.00 price objective on the specialty retailer’s stock, down from their previous price objective of $40.00.

TSCO has been the topic of several other research reports. BNP Paribas Exane increased their target price on Tractor Supply from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $36.00 price target (up from $35.00) on shares of Tractor Supply in a report on Monday, October 19th. Truist Financial set a $33.00 price objective on Tractor Supply and gave the stock a “hold” rating in a research report on Monday, October 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $38.00 price objective (down from $43.00) on shares of Tractor Supply in a research report on Friday, July 24th. Finally, Piper Sandler set a $35.00 price target on Tractor Supply in a report on Friday, October 23rd. Twelve research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.54.

Get Our Latest Stock Report on Tractor Supply

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $36.45 on Friday. The business has a 50-day simple moving average of $33.59 and a 200-day simple moving average of $37.46. The company has a market cap of $18.90 billion, a PE ratio of 19.60, a P/E/G ratio of 2.83 and a beta of 0.49. Tractor Supply has a one year low of $28.36 and a one year high of $56.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 1.38.

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

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 23rd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 23rd. Tractor Supply’s dividend payout ratio (DPR) is presently 51.61%.

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently modified their holdings of the stock. Colonial Trust Co SC boosted its holdings in Tractor Supply by 7.9% in the 3rd quarter. Colonial Trust Co SC now owns 3,674 shares of the specialty retailer’s stock worth $115,000 after acquiring an additional 269 shares during the period. Kesler Norman & Wride LLC grew its position in Tractor Supply by 1.7% in the first quarter. Kesler Norman & Wride LLC now owns 19,771 shares of the specialty retailer’s stock valued at $896,000 after acquiring an additional 328 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Tractor Supply by 0.6% during the third quarter. Parallel Advisors LLC now owns 55,171 shares of the specialty retailer’s stock valued at $1,726,000 after purchasing an additional 348 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Tractor Supply by 6.2% during the first quarter. Checchi Capital Advisers LLC now owns 6,172 shares of the specialty retailer’s stock valued at $280,000 after purchasing an additional 362 shares during the period. Finally, Community Financial Services Group LLC lifted its position in shares of Tractor Supply by 44.0% during the third quarter. Community Financial Services Group LLC now owns 1,202 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 367 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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