Tractor Supply (NASDAQ:TSCO) Lifted to Strong-Buy at UBS Group

Tractor Supply (NASDAQ:TSCO) was upgraded by research analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a research report issued on Friday, Zacks.com reports.

Several other analysts also recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 price target on shares of Tractor Supply in a research note on Thursday, July 25th. Melius Research initiated coverage on Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Truist Financial lifted their price objective on shares of Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 target price for the company. in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.70.

Tractor Supply Price Performance

Shares of TSCO opened at $293.86 on Friday. The stock has a 50 day simple moving average of $272.26 and a 200 day simple moving average of $269.51. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $298.36. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. The firm has a market capitalization of $31.68 billion, a PE ratio of 28.61, a P/E/G ratio of 3.74 and a beta of 0.80.

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

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Tractor Supply

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wedmont Private Capital increased its holdings in shares of Tractor Supply by 3.6% during the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 45 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Tractor Supply by 998.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 109,403 shares of the specialty retailer’s stock worth $23,525,000 after acquiring an additional 99,441 shares during the period. Assenagon Asset Management S.A. raised its holdings in Tractor Supply by 527.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 26,501 shares of the specialty retailer’s stock valued at $7,155,000 after acquiring an additional 22,279 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tractor Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after acquiring an additional 48,439 shares during the period. Finally, Congress Asset Management Co. MA grew its holdings in shares of Tractor Supply by 7.2% during the 1st quarter. Congress Asset Management Co. MA now owns 163,875 shares of the specialty retailer’s stock worth $42,889,000 after purchasing an additional 10,980 shares in the last quarter. Institutional investors and hedge funds 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.