Tractor Supply (NASDAQ:TSCO) Price Target Raised to $263.00

Tractor Supply (NASDAQ:TSCO) had its price objective boosted by JPMorgan Chase & Co. from $241.00 to $263.00 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

Several other brokerages have also issued reports on TSCO. Stephens lowered shares of Tractor Supply from an overweight rating to an equal weight rating and increased their price target for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Telsey Advisory Group lifted their target price on shares of Tractor Supply from $280.00 to $305.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Mizuho restated a neutral rating and issued a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Guggenheim lifted their price objective on Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Piper Sandler increased their target price on Tractor Supply from $265.00 to $300.00 and gave the stock an overweight rating in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Tractor Supply has a consensus rating of Hold and a consensus target price of $253.54.

Tractor Supply Price Performance

TSCO opened at $270.21 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The stock has a market capitalization of $29.16 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. The stock’s 50 day moving average price is $255.80 and its 200-day moving average price is $229.30. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $279.38.

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 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. Tractor Supply’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Tractor Supply will post 10.3 EPS for the current year.

Insider Activity

In related news, CFO Kurt D. Barton sold 401 shares of Tractor Supply 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 in the company, valued at $5,804,516.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert D. Mills sold 48,334 shares of the company’s 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 completion of the transaction, the executive vice president now owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock valued at $21,201,877 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds have recently made changes to their positions in TSCO. SPC Financial Inc. lifted its holdings in Tractor Supply by 74.4% in the 1st quarter. SPC Financial Inc. now owns 6,307 shares of the specialty retailer’s stock worth $1,651,000 after purchasing an additional 2,691 shares in the last quarter. 9258 Wealth Management LLC purchased a new position in Tractor Supply during the first quarter valued at $239,000. Bancreek Capital Management LP increased its holdings in Tractor Supply by 1.4% in the 1st quarter. Bancreek Capital Management LP now owns 27,656 shares of the specialty retailer’s stock valued at $7,238,000 after acquiring an additional 378 shares during the last quarter. Avidian Wealth Solutions LLC purchased a new stake in Tractor Supply in the 1st quarter worth $211,000. Finally, Mediolanum International Funds Ltd bought a new position in shares of Tractor Supply during the 1st quarter valued at about $17,995,000. Institutional investors own 98.72% of the company’s stock.

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.