Tractor Supply (NASDAQ:TSCO) PT Raised to $290.00

Tractor Supply (NASDAQ:TSCO) had its price target upped by investment analysts at Raymond James from $285.00 to $290.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Raymond James’ price objective points to a potential upside of 6.34% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Robert W. Baird set a $320.00 price objective on Tractor Supply in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. UBS Group upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Piper Sandler lifted their target price on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, DA Davidson raised their price objective on shares of Tractor Supply from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.96.

Tractor Supply Price Performance

Shares of TSCO stock traded down $1.58 on Friday, reaching $272.71. The company had a trading volume of 498,920 shares, compared to its average volume of 1,051,119. The business’s 50-day moving average is $282.05 and its 200 day moving average is $272.89. Tractor Supply has a one year low of $185.00 and a one year high of $307.64. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $29.42 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, October 24th. The specialty retailer reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. Equities research analysts forecast that Tractor Supply will post 10.23 EPS for the current fiscal year.

Insider Activity

In related news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in Tractor Supply by 527.7% during the second quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after acquiring an additional 22,279 shares during the last quarter. Ballentine Partners LLC raised its position in Tractor Supply by 2.1% in the 2nd quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock worth $1,216,000 after purchasing an additional 93 shares during the period. Janney Montgomery Scott LLC lifted its stake in Tractor Supply by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 143,749 shares of the specialty retailer’s stock worth $37,622,000 after purchasing an additional 4,788 shares during the last quarter. Clearbridge Investments LLC boosted its position in Tractor Supply by 11,952.8% during the first quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after buying an additional 239,176 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Tractor Supply by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after buying an additional 368,859 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.