Tractor Supply Downgraded to Market Perform at Oppenheimer (TSCO)
Tractor Supply (NASDAQ:TSCO) was downgraded by investment analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $70.00 target price on the stock, down from their previous target price of $80.00. Oppenheimer’s price target indicates a potential upside of 6.49% from the company’s current price.
Tractor Supply (NASDAQ:TSCO) traded down 0.73% on Friday, hitting $65.70. The stock had a trading volume of 1,266,434 shares. Tractor Supply has a 52 week low of $49.82 and a 52 week high of $78.17. The stock has a 50-day moving average of $71.45 and a 200-day moving average of $68.3. The company has a market cap of $9.181 billion and a price-to-earnings ratio of 28.53. Tractor Supply also was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 3,194,901 shares, a drop of 29.4% from the January 15th total of 4,522,634 shares. Based on an average daily volume of 4,832,609 shares, the days-to-cover ratio is presently 0.7 days. Currently, 2.3% of the company’s stock are short sold.
Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict that Tractor Supply will post $2.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, March 11th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, February 20th.
TSCO has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Tractor Supply in a research note on Friday, February 7th. They now have a $68.00 price target on the stock. Separately, analysts at UBS AG cut their price target on shares of Tractor Supply from $86.00 to $80.00 in a research note on Thursday, January 30th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $89.67.
In other Tractor Supply news, SVP Kimberly D. Vella unloaded 27,390 shares of Tractor Supply stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $65.87, for a total transaction of $1,804,179.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Tractor Supply Company is an operator of retail farm and ranch stores in the United States. The Company operates retail stores under the names Tractor Supply Company and Del’s Farm Supply and operate a Website under the name TractorSupply.
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