Tractor Supply (TSCO) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Tractor Supply (NASDAQ:TSCO) from a buy rating to a hold rating in a research note published on Friday, January 5th.

According to Zacks, “Tractor Supply remains focused on its store growth initiatives, which has helped the company to surpass the industry in the past three months. Further, the company is set to gain from its solid omni-channel efforts, with its Buy Online Pick Up in Store plan in particular. This also fueled Tractor Supply’s third-quarter 2017 results, wherein it topped earnings and sales estimates, alongside maintaining its year-over-year growth trend. Results gained from solid comps, which were driven by strength across all regions and major product categories. Moreover, higher demand for cold weather products keeps the company well positioned for the fall and winter season. These trends encouraged management to raised 2017 view. However, deflation was a headwind in the third quarter, which is expected to linger in 2017. Furthermore, management expects SG&A expense deleverage in the fourth quarter, where gross margin is also likely to be pressurized.”

Several other equities research analysts also recently issued reports on the company. Northcoast Research restated a buy rating on shares of Tractor Supply in a report on Wednesday, January 3rd. TheStreet upgraded Tractor Supply from a c+ rating to a b rating in a research report on Wednesday, December 20th. BidaskClub upgraded Tractor Supply from a hold rating to a buy rating in a research report on Friday, December 22nd. Wolfe Research upgraded Tractor Supply from a market perform rating to an outperform rating in a research report on Wednesday, December 20th. Finally, Moffett Nathanson started coverage on Tractor Supply in a research report on Monday, December 4th. They issued a neutral rating for the company. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $67.80.

Tractor Supply (TSCO) traded up $0.90 during mid-day trading on Friday, reaching $79.39. The company’s stock had a trading volume of 1,080,000 shares, compared to its average volume of 2,000,000. The company has a quick ratio of 0.17, a current ratio of 2.00 and a debt-to-equity ratio of 0.38. Tractor Supply has a 52 week low of $49.87 and a 52 week high of $79.85. The stock has a market cap of $9,970.00, a P/E ratio of 23.56, a PEG ratio of 1.53 and a beta of 1.31.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Wednesday, October 25th. The specialty retailer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Tractor Supply had a return on equity of 31.25% and a net margin of 6.04%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $0.67 EPS. Tractor Supply’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities research analysts anticipate that Tractor Supply will post 3.28 EPS for the current fiscal year.

In related news, CMO Steve K. Barbarick sold 43,076 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $69.03, for a total transaction of $2,973,536.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Virginia Retirement Systems ET AL raised its stake in Tractor Supply by 4.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 4,300 shares of the specialty retailer’s stock valued at $233,000 after acquiring an additional 200 shares in the last quarter. Tredje AP fonden raised its stake in Tractor Supply by 2.8% during the 2nd quarter. Tredje AP fonden now owns 9,580 shares of the specialty retailer’s stock valued at $519,000 after acquiring an additional 260 shares in the last quarter. Sentry Investment Management LLC raised its stake in shares of Tractor Supply by 3.1% in the 2nd quarter. Sentry Investment Management LLC now owns 8,957 shares of the specialty retailer’s stock worth $486,000 after buying an additional 268 shares in the last quarter. Commonwealth Bank of Australia raised its stake in shares of Tractor Supply by 15.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock worth $128,000 after buying an additional 317 shares in the last quarter. Finally, Formidable Asset Management LLC raised its stake in shares of Tractor Supply by 1.8% in the 2nd quarter. Formidable Asset Management LLC now owns 19,429 shares of the specialty retailer’s stock worth $1,053,000 after buying an additional 341 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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Tractor Supply Company Profile

Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.

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