Analysts Set Tractor Supply Company (NASDAQ:TSCO) Target Price at $59.78

Shares of Tractor Supply Company (NASDAQ:TSCO) have received an average rating of “Moderate Buy” from the twenty-five analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $59.7826.

TSCO has been the subject of a number of research reports. Wolfe Research reaffirmed an “outperform” rating and set a $57.00 target price on shares of Tractor Supply in a report on Friday, January 30th. JPMorgan Chase & Co. decreased their price target on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Gordon Haskett lowered shares of Tractor Supply from an “accumulate” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $50.00 in a research report on Thursday, January 8th. Guggenheim reaffirmed a “buy” rating and set a $65.00 price objective on shares of Tractor Supply in a research note on Thursday, January 22nd. Finally, Mizuho cut their price objective on shares of Tractor Supply from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, January 30th.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $49.47 on Monday. The company has a market cap of $26.04 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 2.52 and a beta of 0.72. The stock’s 50 day simple moving average is $52.34 and its 200-day simple moving average is $54.41. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $63.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, February 24th. Tractor Supply’s dividend payout ratio (DPR) is currently 46.38%.

Insider Transactions at Tractor Supply

In related news, EVP Colin Yankee sold 11,170 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $55.35, for a total value of $618,259.50. Following the completion of the sale, the executive vice president owned 45,515 shares of the company’s stock, valued at approximately $2,519,255.25. This trade represents a 19.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt D. Barton sold 1,884 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $53.81, for a total value of $101,378.04. Following the transaction, the chief financial officer owned 52,562 shares in the company, valued at approximately $2,828,361.22. The trade was a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 222,348 shares of company stock valued at $11,959,621. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Delos Wealth Advisors LLC acquired a new stake in Tractor Supply during the second quarter worth about $26,000. JPL Wealth Management LLC acquired a new position in Tractor Supply in the 3rd quarter valued at about $28,000. Garner Asset Management Corp acquired a new position in Tractor Supply in the 4th quarter valued at about $25,000. Reflection Asset Management purchased a new stake in shares of Tractor Supply in the 4th quarter valued at approximately $26,000. Finally, Core Wealth Advisors LLC purchased a new stake in shares of Tractor Supply in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.