Tractor Supply (NASDAQ:TSCO) Price Target Raised to $235.00

Tractor Supply (NASDAQ:TSCO) had its price objective raised by equities research analysts at Morgan Stanley from $195.00 to $235.00 in a report issued on Friday, Benzinga reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 14.08% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Evercore ISI lifted their price target on shares of Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Raymond James downgraded shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $230.00 to $250.00 in a research report on Friday, February 2nd. Wedbush reissued a “neutral” rating and set a $235.00 target price on shares of Tractor Supply in a research report on Tuesday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $275.00 target price on shares of Tractor Supply in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and a consensus target price of $245.70.

Tractor Supply Trading Up 3.1 %

NASDAQ TSCO traded up $8.24 during mid-day trading on Friday, reaching $273.50. 903,038 shares of the stock were exchanged, compared to its average volume of 1,163,194. Tractor Supply has a one year low of $185.00 and a one year high of $274.66. The stock has a 50 day simple moving average of $251.70 and a 200-day simple moving average of $226.10. The stock has a market cap of $29.52 billion, a P/E ratio of 27.13, a P/E/G ratio of 3.88 and a beta of 0.84. 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 posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share 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 firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Tractor Supply will post 10.2 EPS for the current year.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at approximately $2,418,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Tractor Supply by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after buying an additional 48,439 shares during the last quarter. Capital International Investors increased its holdings in shares of Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after buying an additional 439,954 shares during the last quarter. Capital World Investors increased its holdings in shares of Tractor Supply by 10.0% in the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after buying an additional 531,170 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after buying an additional 1,784,304 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Tractor Supply by 76.7% in the 3rd quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after buying an additional 878,874 shares during the last quarter. 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.