Tractor Supply (NASDAQ:TSCO) PT Raised to $332.00

Tractor Supply (NASDAQ:TSCO) had its target price hoisted by research analysts at Piper Sandler from $300.00 to $332.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. Piper Sandler’s target price indicates a potential upside of 10.37% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. UBS Group upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Wedbush reiterated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research note on Friday, July 26th. Truist Financial increased their target price on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Tractor Supply in a research note on Thursday, July 25th. Finally, Benchmark reiterated a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $268.32.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $300.82 on Monday. The stock has a market capitalization of $32.43 billion, a P/E ratio of 29.29, a PEG ratio of 3.73 and a beta of 0.80. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $277.45 and its 200 day moving average is $271.25. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $307.64.

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

Insider Activity at Tractor Supply

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

Institutional Investors Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning lifted its position in shares of Tractor Supply by 2.7% in the 3rd quarter. Creative Planning now owns 32,004 shares of the specialty retailer’s stock worth $9,311,000 after purchasing an additional 842 shares during the period. Fiduciary Alliance LLC purchased a new position in Tractor Supply during the 3rd quarter valued at about $555,000. Henrickson Nauta Wealth Advisors Inc. lifted its position in Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock valued at $328,000 after acquiring an additional 35 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Tractor Supply by 24.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,893 shares of the specialty retailer’s stock valued at $842,000 after acquiring an additional 562 shares during the period. Finally, Smith Chas P & Associates PA Cpas purchased a new position in Tractor Supply during the 3rd quarter valued at about $201,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.