Credit Suisse Group AG Downgrades Tractor Supply Co. (TSCO) to Neutral
Tractor Supply Co. (NASDAQ:TSCO) was downgraded by stock analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday. They presently have a $72.00 target price on the stock, down from their prior target price of $96.00. Credit Suisse Group AG’s target price would suggest a potential upside of 5.23% from the stock’s current price.
A number of other brokerages have also commented on TSCO. Nomura reiterated a “buy” rating and set a $105.00 price target on shares of Tractor Supply in a report on Thursday, June 30th. Wedbush restated an “outperform” rating and issued a $96.00 target price on shares of Tractor Supply in a research note on Thursday, June 30th. Zacks Investment Research upgraded Tractor Supply from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Morgan Stanley restated a “hold” rating and issued a $95.00 target price on shares of Tractor Supply in a research note on Tuesday. Finally, Robert W. Baird restated a “buy” rating on shares of Tractor Supply in a research note on Monday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. Tractor Supply presently has a consensus rating of “Hold” and an average target price of $92.53.
Shares of Tractor Supply (NASDAQ:TSCO) traded down 1.38% during mid-day trading on Thursday, hitting $68.42. The company had a trading volume of 5,491,082 shares. The company has a market capitalization of $9.15 billion, a PE ratio of 21.94 and a beta of 1.04. Tractor Supply has a one year low of $68.13 and a one year high of $97.25. The company’s 50-day moving average is $85.71 and its 200 day moving average is $90.14.
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Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.16. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.93 billion. Tractor Supply had a return on equity of 30.30% and a net margin of 6.57%. Tractor Supply’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. On average, equities research analysts forecast that Tractor Supply will post $3.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Monday, August 15th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, August 11th. Tractor Supply’s dividend payout ratio (DPR) is presently 30.77%.
Other large investors recently added to or reduced their stakes in the company. Creative Planning raised its stake in Tractor Supply by 0.7% in the first quarter. Creative Planning now owns 14,033 shares of the company’s stock worth $1,269,000 after buying an additional 100 shares during the period. Mount Vernon Associates Inc. MD raised its stake in Tractor Supply by 0.6% in the second quarter. Mount Vernon Associates Inc. MD now owns 18,035 shares of the company’s stock worth $1,644,000 after buying an additional 100 shares during the period. Kelman Lazarov Inc. raised its stake in Tractor Supply by 4.3% in the second quarter. Kelman Lazarov Inc. now owns 2,919 shares of the company’s stock worth $270,000 after buying an additional 119 shares during the period. HL Financial Services LLC raised its stake in Tractor Supply by 3.6% in the second quarter. HL Financial Services LLC now owns 4,019 shares of the company’s stock worth $366,000 after buying an additional 140 shares during the period. Finally, SPC Financial Inc. raised its stake in Tractor Supply by 3.1% in the second quarter. SPC Financial Inc. now owns 5,685 shares of the company’s stock worth $518,000 after buying an additional 170 shares during the period. 91.99% of the stock is owned by institutional investors.
Tractor Supply Company Profile
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company operates in the retail sale of products that support the rural lifestyle segment. The Company focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses.
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