Raymond James Raises Tractor Supply (NASDAQ:TSCO) Price Target to $285.00

Tractor Supply (NASDAQ:TSCO) had its target price raised by research analysts at Raymond James from $250.00 to $285.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Raymond James’ target price would indicate a potential upside of 4.43% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 price target on shares of Tractor Supply in a research note on Thursday. Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Truist Financial increased their price objective on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho reiterated a “neutral” rating and issued a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a report on Friday. Finally, Wedbush restated a “neutral” rating and set a $235.00 target price on shares of Tractor Supply in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Tractor Supply has a consensus rating of “Hold” and a consensus target price of $248.17.

Tractor Supply Trading Up 2.9 %

TSCO stock traded up $7.66 during midday trading on Friday, reaching $272.92. 1,056,181 shares of the company’s stock traded hands, compared to its average volume of 1,165,127. The company has a market capitalization of $29.46 billion, a P/E ratio of 27.12, a PEG ratio of 3.88 and a beta of 0.84. The business has a 50-day moving average price of $251.70 and a two-hundred day moving average price of $226.10. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $274.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Tractor Supply will post 10.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the sale, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kurt D. Barton sold 401 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock worth $21,201,877 in the last 90 days. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in Tractor Supply in the 1st quarter worth $26,000. Rise Advisors LLC grew its position in shares of Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 66 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Tractor Supply during the fourth quarter valued at about $27,000. OFI Invest Asset Management purchased a new position in Tractor Supply in the third quarter worth about $25,000. Finally, Pinnacle Bancorp Inc. purchased a new position in Tractor Supply in the fourth quarter worth about $28,000. 98.72% of the stock is owned by institutional investors.

Tractor Supply Company Profile

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.