Tractor Supply (NASDAQ:TSCO) Raised to Strong-Buy at Citigroup

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

Several other equities analysts also recently issued reports on the company. Wedbush reiterated a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 target price on the stock. in a research note on Thursday, October 3rd. Truist Financial increased 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. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a report on Thursday, July 25th. Finally, Benchmark restated a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.70.

Tractor Supply Price Performance

TSCO opened at $293.86 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $272.26 and its 200 day moving average price is $269.51. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $298.36. The firm has a market cap of $31.68 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 3.74 and a beta of 0.80.

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

Insider Activity

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction 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 $1,356,349.50. This trade 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 Investors Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in TSCO. Future Financial Wealth Managment LLC bought a new stake in Tractor Supply in the first quarter worth approximately $26,000. Rise Advisors LLC increased its position in Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after buying an additional 66 shares during the last quarter. LRI Investments LLC bought a new position in Tractor Supply during the first quarter valued at about $28,000. J.Safra Asset Management Corp lifted its position 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 worth $29,000 after buying an additional 98 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. 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.