Tractor Supply’s (TSCO) “Buy” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a research note published on Friday morning,Benzinga reports. They currently have a $60.00 price target on the specialty retailer’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial lowered their target price on shares of Tractor Supply from $65.00 to $63.40 and set a “buy” rating on the stock in a research note on Friday, October 25th. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Benchmark boosted their price target on shares of Tractor Supply from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Gordon Haskett lowered shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $54.36 on Friday. The stock has a market cap of $29.04 billion, a P/E ratio of 26.44, a PEG ratio of 3.29 and a beta of 0.84. The company’s 50-day simple moving average is $55.24 and its 200 day simple moving average is $55.22. Tractor Supply has a twelve month low of $44.35 and a twelve month high of $61.53. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a net margin of 7.53% and a return on equity of 50.19%. As a group, research analysts forecast that Tractor Supply will post 2.05 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.88 annualized dividend and a yield of 1.62%. Tractor Supply’s dividend payout ratio is currently 42.80%.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently bought and sold shares of the business. PrairieView Partners LLC lifted its holdings in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 400 shares during the period. Future Financial Wealth Managment LLC lifted its holdings in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares during the period. Archer Investment Corp lifted its holdings in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares during the period. Kentucky Trust Co bought a new stake in Tractor Supply in the fourth quarter valued at approximately $27,000. Finally, First Personal Financial Services bought a new stake in Tractor Supply in the third quarter valued at approximately $29,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.