Tractor Supply (NASDAQ:TSCO) Given New $290.00 Price Target at Evercore ISI

Tractor Supply (NASDAQ:TSCO) had its price target cut by Evercore ISI from $295.00 to $290.00 in a research report report published on Tuesday, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

Several other research firms have also commented on TSCO. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $241.00 to $263.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Benchmark restated a buy rating and issued a $256.00 price target on shares of Tractor Supply in a research note on Monday, April 22nd. Robert W. Baird upped their price target on Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a report on Friday, April 26th. Wedbush reissued a neutral rating and issued a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Finally, Mizuho reaffirmed a neutral rating and set a $250.00 target price (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of Hold and an average target price of $253.96.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $266.03 on Tuesday. The firm has a market capitalization of $28.68 billion, a P/E ratio of 25.90, a PEG ratio of 3.51 and a beta of 0.81. The stock has a 50-day simple moving average of $275.40 and a two-hundred day simple moving average of $251.29. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $290.38.

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 analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company 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 company posted $1.65 earnings per share. Tractor Supply’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Tractor Supply will post 10.34 earnings per share for the current year.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, May 24th. This represents a $4.40 annualized dividend and a dividend yield of 1.65%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Institutional Trading of Tractor Supply

Several hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tractor Supply in the third quarter valued at about $407,000. AQR Capital Management LLC raised its holdings in shares of Tractor Supply by 14.8% in the 3rd quarter. AQR Capital Management LLC now owns 25,162 shares of the specialty retailer’s stock valued at $5,109,000 after buying an additional 3,251 shares during the period. Seven Eight Capital LP lifted its position in shares of Tractor Supply by 63.4% during the third quarter. Seven Eight Capital LP now owns 15,774 shares of the specialty retailer’s stock worth $3,203,000 after purchasing an additional 6,122 shares in the last quarter. Scotia Capital Inc. increased its stake in Tractor Supply by 2.5% during the 3rd quarter. Scotia Capital Inc. now owns 2,177 shares of the specialty retailer’s stock worth $442,000 after buying an additional 54 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in shares of Tractor Supply by 13.4% in the third quarter. Royal London Asset Management Ltd. now owns 67,737 shares of the specialty retailer’s stock valued at $13,757,000 after acquiring an additional 8,002 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.