Tractor Supply (NASDAQ:TSCO) Trading Down 2.5% After Analyst Downgrade

Tractor Supply (NASDAQ:TSCO) shares dropped 2.5% during mid-day trading on Wednesday after Evercore ISI lowered their price target on the stock from $295.00 to $290.00. Evercore ISI currently has an outperform rating on the stock. Tractor Supply traded as low as $258.69 and last traded at $259.50. Approximately 344,618 shares were traded during trading, a decline of 70% from the average daily volume of 1,152,921 shares. The stock had previously closed at $266.03.

Other analysts also recently issued research reports about the company. Raymond James lifted their target price on Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price target on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, March 25th. TD Cowen raised their price target on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday, April 26th. Mizuho restated a “neutral” rating and set a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Finally, Telsey Advisory Group lifted their target price on Tractor Supply from $280.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $253.96.

Institutional Trading of Tractor Supply

Several large investors have recently added to or reduced their stakes in TSCO. Citizens National Bank Trust Department boosted its stake in shares of Tractor Supply by 0.5% in the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock worth $2,086,000 after buying an additional 45 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Tractor Supply by 10.9% in the 1st quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock worth $120,000 after purchasing an additional 45 shares during the period. Wedmont Private Capital raised its holdings in Tractor Supply by 3.6% in the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 45 shares during the period. Wahed Invest LLC raised its holdings in Tractor Supply by 2.8% in the 4th quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock worth $383,000 after purchasing an additional 49 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Tractor Supply by 6.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the specialty retailer’s stock worth $211,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Stock Down 1.6 %

The business has a fifty day simple moving average of $275.47 and a 200 day simple moving average of $251.36. The firm has a market cap of $28.21 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 3.51 and a beta of 0.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio is presently 42.84%.

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.