Tractor Supply (NASDAQ:TSCO) Now Covered by Stephens

Investment analysts at Stephens assumed coverage on shares of Tractor Supply (NASDAQ:TSCO) in a report released on Wednesday,Benzinga reports. The firm set an “equal weight” rating and a $56.00 price target on the specialty retailer’s stock. Stephens’ price target would suggest a potential upside of 17.01% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Loop Capital raised their price target on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Truist Financial lowered their target price on Tractor Supply from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Bank of America boosted their target price on Tractor Supply from $44.00 to $53.00 and gave the stock an “underperform” rating in a research report on Thursday, January 16th. Barclays reduced their target price on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.07.

Tractor Supply Price Performance

NASDAQ TSCO traded down $0.16 during trading hours on Wednesday, reaching $47.86. 467,913 shares of the company’s stock were exchanged, compared to its average volume of 5,095,608. The firm has a fifty day moving average of $54.30 and a 200-day moving average of $55.48. Tractor Supply has a one year low of $47.06 and a one year high of $61.53. The stock has a market cap of $25.44 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has authorized a share repurchase plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares of the company’s stock, valued at approximately $26,686,430.68. This represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,993 shares of company stock worth $7,538,068. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pine Valley Investments Ltd Liability Co lifted its stake in Tractor Supply by 7.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 978 shares of the specialty retailer’s stock valued at $285,000 after acquiring an additional 65 shares during the last quarter. Advisory Alpha LLC raised its holdings in shares of Tractor Supply by 6.2% in the 1st quarter. Advisory Alpha LLC now owns 4,826 shares of the specialty retailer’s stock valued at $266,000 after purchasing an additional 283 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Tractor Supply by 21.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,829 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 327 shares during the last quarter. Smithfield Trust Co grew its holdings in Tractor Supply by 286.2% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 352 shares during the period. Finally, Blue Trust Inc. increased its position in Tractor Supply by 28.2% during the fourth quarter. Blue Trust Inc. now owns 1,646 shares of the specialty retailer’s stock worth $87,000 after buying an additional 362 shares during 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.