DA Davidson Forecasts Stronger Earnings for Tractor Supply

Tractor Supply (NASDAQ:TSCO) – Research analysts at DA Davidson increased their Q3 2024 earnings per share (EPS) estimates for Tractor Supply in a research report issued on Tuesday, October 22nd. DA Davidson analyst M. Baker now expects that the specialty retailer will post earnings per share of $2.23 for the quarter, up from their prior forecast of $2.18. The consensus estimate for Tractor Supply’s current full-year earnings is $10.23 per share.

TSCO has been the topic of a number of other research reports. Wedbush reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Citigroup downgraded Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler raised their price target on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company raised their price target on Tractor Supply from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.50.

Tractor Supply Price Performance

TSCO opened at $292.09 on Wednesday. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $307.64. The business’s fifty day simple moving average is $281.23 and its 200-day simple moving average is $272.74. The company has a market capitalization of $31.49 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 3.74 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.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company earned $3.83 EPS. The business’s revenue was up 1.6% compared to the same quarter last year.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds have recently bought and sold shares of TSCO. Price T Rowe Associates Inc. MD raised its position in Tractor Supply by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after purchasing an additional 368,859 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Tractor Supply by 2,921.4% in the 2nd quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after acquiring an additional 345,402 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Tractor Supply by 11,952.8% in the 1st quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after acquiring an additional 239,176 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Tractor Supply by 29,058.6% in the 3rd quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock valued at $67,865,000 after acquiring an additional 232,469 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of Tractor Supply in the 2nd quarter valued at about $38,070,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, 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 value of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kurt D. Barton sold 23,532 shares of the company’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 transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s payout ratio is 42.84%.

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.