Tractor Supply (NASDAQ:TSCO) Rating Lowered to Hold at Citigroup

Tractor Supply (NASDAQ:TSCO) was downgraded by investment analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

Several other brokerages have also commented on TSCO. Loop Capital lifted their price objective on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Evercore ISI downgraded Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target for the company. in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price objective on shares of Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Melius Research started coverage on Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $315.00 price target for the company. Finally, Wedbush reiterated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $272.50.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $297.62 on Thursday. Tractor Supply has a one year low of $185.00 and a one year high of $307.64. The company has a market capitalization of $32.09 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 3.81 and a beta of 0.80. The company’s 50-day moving average is $279.96 and its 200 day moving average is $271.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43.

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

Insider Activity at Tractor Supply

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

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently modified their holdings of TSCO. Price T Rowe Associates Inc. MD raised its stake in Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after buying an additional 368,859 shares in the last quarter. Marshall Wace LLP raised its holdings in Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock worth $96,451,000 after purchasing an additional 345,402 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Tractor Supply by 11,952.8% during the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after buying an additional 239,176 shares during the last quarter. Employees Retirement System of Texas bought a new stake in shares of Tractor Supply in the 2nd quarter valued at about $38,070,000. Finally, Swedbank AB bought a new position in shares of Tractor Supply during the 1st quarter worth approximately $34,262,000. Institutional investors own 98.72% of the company’s stock.

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.