Tractor Supply (NASDAQ:TSCO) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Tractor Supply (NASDAQ:TSCO) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, Briefing.com Automated Import reports. Morgan Stanley currently has $115.00 price target on the specialty retailer’s stock.

Several other brokerages have also recently issued reports on TSCO. Gordon Haskett cut Tractor Supply from a buy rating to an accumulate rating in a research report on Monday, January 6th. Piper Jaffray Companies set a $113.00 price target on Tractor Supply and gave the company a buy rating in a research report on Friday, October 25th. Robert W. Baird lowered their price target on Tractor Supply from $125.00 to $120.00 and set an outperform rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Co reiterated a buy rating and set a $115.00 price target on shares of Tractor Supply in a research report on Thursday, December 5th. Finally, BidaskClub cut Tractor Supply from a sell rating to a strong sell rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $108.70.

Shares of NASDAQ TSCO opened at $93.57 on Tuesday. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.57 and a beta of 1.00. Tractor Supply has a 12-month low of $82.62 and a 12-month high of $114.25. The company has a current ratio of 1.60, a quick ratio of 0.15 and a debt-to-equity ratio of 1.75. The stock’s 50 day simple moving average is $93.17 and its 200 day simple moving average is $98.03.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, October 24th. The specialty retailer reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). Tractor Supply had a net margin of 6.69% and a return on equity of 36.64%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Tractor Supply will post 4.71 earnings per share for the current fiscal year.

In other news, SVP Chad Michael Frazell sold 13,441 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $98.49, for a total transaction of $1,323,804.09. Also, EVP Benjamin F. Parrish, Jr. sold 300 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $98.48, for a total value of $29,544.00. Following the sale, the executive vice president now directly owns 26,022 shares of the company’s stock, valued at $2,562,646.56. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSCO. Nuveen Asset Management LLC boosted its stake in shares of Tractor Supply by 417.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 958,613 shares of the specialty retailer’s stock worth $104,297,000 after acquiring an additional 773,332 shares in the last quarter. SPF Beheer BV bought a new position in Tractor Supply during the fourth quarter valued at about $69,945,000. Massachusetts Financial Services Co. MA increased its stake in Tractor Supply by 8.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,791,079 shares of the specialty retailer’s stock valued at $252,426,000 after acquiring an additional 226,050 shares during the period. DNB Asset Management AS increased its stake in Tractor Supply by 21.6% during the third quarter. DNB Asset Management AS now owns 1,162,006 shares of the specialty retailer’s stock valued at $105,092,000 after acquiring an additional 206,554 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its stake in Tractor Supply by 11.7% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,771,296 shares of the specialty retailer’s stock valued at $192,717,000 after acquiring an additional 186,161 shares during the period. 82.25% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Company Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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