Tractor Supply (NASDAQ:TSCO) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Tractor Supply (NASDAQ:TSCO) from a hold rating to a strong sell rating in a research note released on Monday,Zacks.com reports.

Several other research firms have also recently commented on TSCO. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Tractor Supply in a research report on Thursday, October 23rd. Telsey Advisory Group decreased their price target on shares of Tractor Supply from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, January 29th. Jefferies Financial Group reduced their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Evercore ISI restated an “outperform” rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. dropped their price target on Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and an average target price of $59.78.

Tractor Supply Trading Up 3.4%

NASDAQ TSCO opened at $55.28 on Monday. The stock has a market cap of $29.21 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.68 and a beta of 0.74. Tractor Supply has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The stock has a 50 day simple moving average of $52.30 and a two-hundred day simple moving average of $55.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the firm posted $0.44 earnings per share. Tractor Supply’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC raised its holdings in Tractor Supply by 1.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 17,908 shares of the specialty retailer’s stock worth $945,000 after buying an additional 175 shares during the last quarter. Financial Network Wealth Advisors LLC increased its position in shares of Tractor Supply by 8.0% during the third quarter. Financial Network Wealth Advisors LLC now owns 2,465 shares of the specialty retailer’s stock valued at $140,000 after acquiring an additional 182 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Tractor Supply by 0.6% in the 3rd quarter. Perigon Wealth Management LLC now owns 34,036 shares of the specialty retailer’s stock worth $1,936,000 after acquiring an additional 200 shares during the last quarter. Field & Main Bank raised its holdings in Tractor Supply by 1.1% in the 4th quarter. Field & Main Bank now owns 18,835 shares of the specialty retailer’s stock worth $942,000 after acquiring an additional 200 shares during the last quarter. Finally, Colonial Trust Advisors lifted its position in Tractor Supply by 1.3% in the 2nd quarter. Colonial Trust Advisors now owns 16,489 shares of the specialty retailer’s stock valued at $870,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.