Tractor Supply (NASDAQ:TSCO) Coverage Initiated at Melius Research

Melius Research initiated coverage on shares of Tractor Supply (NASDAQ:TSCO) in a research report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $315.00 price target on the specialty retailer’s stock. Melius Research’s price objective suggests a potential upside of 14.09% from the company’s current price.

TSCO has been the topic of several other research reports. Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Benchmark restated a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a research note on Friday, July 26th. Evercore ISI cut their price objective on Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research note on Thursday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $258.96.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO traded up $1.20 during trading on Monday, hitting $276.09. 300,014 shares of the company’s stock were exchanged, compared to its average volume of 1,063,629. The business’s 50-day simple moving average is $268.03 and its 200 day simple moving average is $266.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The company has a market cap of $29.77 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.56 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.83 earnings per share. As a group, equities analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds have recently made changes to their positions in TSCO. Future Financial Wealth Managment LLC acquired a new stake in Tractor Supply in the 1st quarter valued at $26,000. LRI Investments LLC purchased a new stake in shares of Tractor Supply during the 1st quarter valued at about $28,000. Rise Advisors LLC lifted its position in Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 66 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in shares of Tractor Supply by 700.0% in the first quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 98 shares during the period. Hedge funds and other 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.