UPDATE: William Blair Downgrades Tractor Supply Company (TSCO) to Market Perform (NOTE: From July 10)

(Updated - July 24, 2014 10:15 AM EDT)

William Blair downgraded Tractor Supply Company (NASDAQ: TSCO) from Outperform to Market Perform (NOTE: The downgrade was made on July 10 after the company warned for Q2). With official results after the close the company maintained the Market Perform rating.

Analyst Mike Miller said, "We have reduced our rating from Outperform to Market Perform based on concerns that the “rural wealth effect” has shifted from a historical tailwind to a headwind, the benefits from internal initiatives have moderated relative to past years, and valuation risk could increase as the growth algorithm is put under the microscope."

For an analyst ratings summary and ratings history on Tractor Supply Company click here. For more ratings news on Tractor Supply Company click here.

Shares of Tractor Supply Company closed at $61.07 yesterday.

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