Evercore ISI Upgrades Tractor Supply (NASDAQ:TSCO) to “Strong-Buy”

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

Several other analysts have also recently commented on TSCO. Gordon Haskett cut Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $335.00 price target on shares of Tractor Supply in a research note on Thursday, October 24th. DA Davidson lifted their price target on shares of Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 25th. Loop Capital upped 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. Finally, JPMorgan Chase & Co. lifted their target price on Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus price target of $282.82.

Tractor Supply Trading Up 0.4 %

Shares of Tractor Supply stock opened at $276.82 on Friday. The firm has a market cap of $29.58 billion, a PE ratio of 26.93, a P/E/G ratio of 3.46 and a beta of 0.82. The business’s fifty day moving average is $284.41 and its two-hundred day moving average is $275.42. Tractor Supply has a fifty-two week low of $193.73 and a fifty-two week high of $307.64. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, November 25th. Tractor Supply’s payout ratio is currently 42.80%.

Insider Activity at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $2,862,682.12. The trade was a 70.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently bought and sold shares of the company. Henrickson Nauta Wealth Advisors Inc. grew its position in shares of Tractor Supply by 3.2% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 35 shares in the last quarter. Private Advisor Group LLC increased its stake in Tractor Supply by 0.5% during the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock valued at $2,238,000 after purchasing an additional 37 shares during the last quarter. Signature Wealth Management Group raised its holdings in shares of Tractor Supply by 0.5% during the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after purchasing an additional 38 shares during the period. Baldwin Investment Management LLC lifted its position in shares of Tractor Supply by 0.3% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after buying an additional 38 shares during the last quarter. Finally, X Square Capital LLC boosted its holdings in shares of Tractor Supply by 1.6% in the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.