Tractor Supply’s (TSCO) Buy Rating Reaffirmed at Northcoast Research

Tractor Supply (NASDAQ:TSCO)‘s stock had its “buy” rating restated by Northcoast Research in a report issued on Wednesday.

Several other research firms also recently weighed in on TSCO. Zacks Investment Research upgraded Tractor Supply from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Tuesday, December 26th. TheStreet upgraded Tractor Supply from a “c+” rating to a “b” rating in a research note on Wednesday, December 20th. BidaskClub upgraded Tractor Supply from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Wolfe Research upgraded Tractor Supply from a “market perform” rating to an “outperform” rating in a research note on Wednesday, December 20th. Finally, Oppenheimer restated a “hold” rating on shares of Tractor Supply in a research note on Friday, December 1st. Fifteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $67.10.

Tractor Supply (NASDAQ:TSCO) traded up $0.93 during mid-day trading on Wednesday, hitting $75.68. The company’s stock had a trading volume of 1,590,000 shares, compared to its average volume of 1,160,550. Tractor Supply has a 1 year low of $49.87 and a 1 year high of $78.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.00 and a quick ratio of 0.17. The stock has a market cap of $9,570.00, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31.

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

In related news, CMO Steve K. Barbarick sold 43,076 shares of the company’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 value of $2,973,536.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X MANAGEMENT CO LLC lifted its holdings in shares of Tractor Supply by 191.7% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 1,785 shares of the specialty retailer’s stock valued at $113,000 after buying an additional 1,173 shares during the period. Commonwealth Bank of Australia lifted its holdings in shares of Tractor Supply by 15.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock valued at $128,000 after buying an additional 317 shares during the period. Bristlecone Advisors LLC bought a new position in shares of Tractor Supply during the 3rd quarter valued at $173,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Tractor Supply by 33.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,325 shares of the specialty retailer’s stock valued at $180,000 after buying an additional 828 shares during the period. Finally, Globeflex Capital L P bought a new position in shares of Tractor Supply during the 2nd quarter valued at $206,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

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About Tractor Supply

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.

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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