Tractor Supply Co. (TSCO) Lowered to “Hold” at Deutsche Bank AG
Tractor Supply Co. (NASDAQ:TSCO) was downgraded by research analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They presently have a $76.00 target price on the stock. Deutsche Bank AG’s price objective points to a potential upside of 11.08% from the company’s previous close.
A number of other brokerages have also commented on TSCO. BTIG Research assumed coverage on Tractor Supply in a research report on Wednesday, June 1st. They issued a “buy” rating and a $115.00 price objective for the company. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Tractor Supply in a research report on Tuesday, June 7th. Northcoast Research lowered Tractor Supply from a “buy” rating to a “neutral” rating in a research report on Thursday, June 30th. Wedbush reiterated an “outperform” rating and issued a $96.00 price objective on shares of Tractor Supply in a research report on Thursday, June 30th. Finally, Royal Bank Of Canada lifted their price objective on Tractor Supply from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $92.53.
Tractor Supply (NASDAQ:TSCO) traded down 1.38% during mid-day trading on Thursday, hitting $68.42. 5,491,082 shares of the stock were exchanged. The stock has a market capitalization of $9.15 billion, a P/E ratio of 21.94 and a beta of 1.04. The firm has a 50-day moving average price of $85.71 and a 200-day moving average price of $90.14. Tractor Supply has a 12-month low of $68.13 and a 12-month high of $97.25.
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Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.16. Tractor Supply had a return on equity of 30.30% and a net margin of 6.57%. The business earned $1.85 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Tractor Supply will post $3.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Monday, August 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Thursday, August 11th. Tractor Supply’s dividend payout ratio is currently 30.77%.
Several hedge funds and institutional investors have bought and sold shares of the company. Kelman Lazarov Inc. acquired a new position in Tractor Supply during the first quarter worth $257,000. Geode Capital Management LLC raised its position in Tractor Supply by 6.1% in the first quarter. Geode Capital Management LLC now owns 1,185,331 shares of the company’s stock worth $107,024,000 after buying an additional 68,301 shares during the last quarter. RPG Investment Advisory LLC acquired a new position in Tractor Supply during the fourth quarter worth $1,904,000. Exxonmobil Investment Management Inc. TX raised its position in Tractor Supply by 8.1% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 32,562 shares of the company’s stock worth $2,946,000 after buying an additional 2,452 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Tractor Supply by 4.3% in the first quarter. Legal & General Group Plc now owns 454,697 shares of the company’s stock worth $41,132,000 after buying an additional 18,776 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.
About Tractor Supply
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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