Tractor Supply (NASDAQ:TSCO) Price Target Raised to $325.00 at DA Davidson

Tractor Supply (NASDAQ:TSCO) had its price objective boosted by DA Davidson from $300.00 to $325.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock. DA Davidson also issued estimates for Tractor Supply’s Q3 2024 earnings at $2.23 EPS, FY2024 earnings at $10.33 EPS and FY2025 earnings at $11.47 EPS.

Other equities analysts also recently issued research reports about the company. Melius Research began coverage on Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 target price for the company. Truist Financial cut their price objective on Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a report on Friday. UBS Group upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Piper Sandler boosted their price target on shares of Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Tractor Supply in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $277.70.

Tractor Supply Stock Performance

TSCO traded down $1.52 during trading on Friday, reaching $272.77. 826,163 shares of the company’s stock were exchanged, compared to its average volume of 1,052,698. The company has a market capitalization of $29.41 billion, a P/E ratio of 26.56, a PEG ratio of 3.66 and a beta of 0.80. 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 business has a 50 day moving average price of $282.24 and a 200 day moving average price of $273.05. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $307.64.

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

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio is 42.84%.

Insider Activity at Tractor Supply

In related 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 transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 540 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Institutional Trading of Tractor Supply

Institutional investors and hedge funds have recently modified their holdings of the stock. Henrickson Nauta Wealth Advisors Inc. boosted its stake in Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 35 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Tractor Supply by 0.5% during the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after purchasing an additional 37 shares in the last quarter. Signature Wealth Management Group boosted its position in shares of Tractor Supply by 0.5% during the second quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer’s stock worth $1,890,000 after purchasing an additional 38 shares in the last quarter. X Square Capital LLC grew its holdings in shares of Tractor Supply by 1.6% in the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer’s stock valued at $696,000 after buying an additional 41 shares during the period. Finally, TCI Wealth Advisors Inc. increased its position in shares of Tractor Supply by 5.1% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock valued at $246,000 after buying an additional 41 shares in the last quarter. 98.72% of the stock is owned by 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.