Tractor Supply (NASDAQ:TSCO) Upgraded by Evercore ISI to Strong-Buy Rating

Evercore ISI upgraded shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a strong-buy rating in a research report released on Friday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on TSCO. Raymond James increased their target price on Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group increased their target price on Tractor Supply from $272.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company increased their target price on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Barclays increased their target price on Tractor Supply from $240.00 to $250.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Gordon Haskett cut Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $282.82.

Tractor Supply Price Performance

Shares of TSCO stock opened at $276.82 on Friday. The stock has a 50 day moving average of $284.41 and a two-hundred day moving average of $275.42. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. Tractor Supply has a 12 month low of $193.73 and a 12 month high of $307.64. The company has a market capitalization of $29.58 billion, a P/E ratio of 26.93, a P/E/G ratio of 3.46 and a beta of 0.82.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be paid a $1.10 dividend. The ex-dividend date is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.59%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.80%.

Insider Transactions at Tractor Supply

In other 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 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 70.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TSCO. O Shaughnessy Asset Management LLC boosted its position in shares of Tractor Supply by 18.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,934 shares of the specialty retailer’s stock worth $2,600,000 after purchasing an additional 1,557 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Tractor Supply by 351.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,021 shares of the specialty retailer’s stock worth $1,314,000 after purchasing an additional 3,908 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in shares of Tractor Supply in the 1st quarter worth $272,000. InterOcean Capital Group LLC bought a new position in Tractor Supply during the first quarter worth about $257,000. Finally, Freestone Capital Holdings LLC grew its stake in Tractor Supply by 4.1% in the first quarter. Freestone Capital Holdings LLC now owns 11,119 shares of the specialty retailer’s stock valued at $2,910,000 after acquiring an additional 442 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

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.