Tractor Supply (TSCO) Upgraded at BidaskClub
TSCO has been the topic of a number of other research reports. Zacks Investment Research raised shares of Tractor Supply from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research report on Tuesday, December 11th. Credit Suisse Group reaffirmed a “hold” rating and issued a $85.00 target price on shares of Tractor Supply in a research report on Tuesday, January 29th. Wells Fargo & Co upped their target price on shares of Tractor Supply from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, February 14th. Bank of America reaffirmed a “neutral” rating and issued a $90.00 target price (down previously from $95.00) on shares of Tractor Supply in a research report on Wednesday, January 9th. Finally, Gordon Haskett raised shares of Tractor Supply from an “accumulate” rating to a “buy” rating in a research report on Thursday, March 21st. Ten equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $92.63.
NASDAQ TSCO opened at $101.17 on Tuesday. Tractor Supply has a 12 month low of $58.27 and a 12 month high of $101.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.22 and a current ratio of 1.91. The stock has a market capitalization of $12.22 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 1.92 and a beta of 1.10.
In related news, EVP Benjamin F. Parrish, Jr. sold 37,596 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $99.00, for a total transaction of $3,722,004.00. Following the sale, the executive vice president now directly owns 26,549 shares in the company, valued at $2,628,351. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory A. Sandfort sold 22,636 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $100.00, for a total transaction of $2,263,600.00. Following the sale, the chief executive officer now owns 114,294 shares in the company, valued at $11,429,400. The disclosure for this sale can be found here. Insiders have sold 211,275 shares of company stock worth $20,820,311 over the last quarter. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in shares of Tractor Supply by 13.0% during the first quarter. State of Alaska Department of Revenue now owns 34,311 shares of the specialty retailer’s stock worth $3,353,000 after buying an additional 3,958 shares during the period. Hexavest Inc. purchased a new stake in shares of Tractor Supply during the first quarter worth approximately $68,590,000. Boothe Investment Group Inc. purchased a new stake in shares of Tractor Supply during the first quarter worth approximately $1,739,000. CX Institutional purchased a new stake in shares of Tractor Supply during the first quarter worth approximately $2,056,000. Finally, First Hawaiian Bank increased its stake in shares of Tractor Supply by 42.8% during the first quarter. First Hawaiian Bank now owns 9,187 shares of the specialty retailer’s stock worth $898,000 after buying an additional 2,753 shares during the period. Hedge funds and other institutional investors own 82.23% of the company’s stock.
About Tractor Supply
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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