BNP Paribas Exane Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $45.00

Key Points

• BNP Paribas Exane cut its price target on Tractor Supply from $58 to $45 while keeping an "outperform" rating, implying roughly a 22% upside from the stock's prior close; several other brokers have also trimmed targets.
• Tractor Supply missed Q1 expectations (EPS $0.31 vs. $0.35 and revenue $3.59B vs. $3.64B), prompting a selloff that pushed the shares to about $36.85 and a new one‑year low alongside multiple analyst downgrades.
• The stock still carries a consensus "Moderate Buy" with an average target near $49.08, but the quarter saw notable insider selling (222,348 shares, ~$12M) while institutional investors own roughly 98.7% of the company.

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its price target cut by research analysts at BNP Paribas Exane from $58.00 to $45.00 in a report released on Wednesday,MarketScreener reports. The firm currently has an "outperform" rating on the specialty retailer's stock. BNP Paribas Exane's price target indicates a potential upside of 22.13% from the stock's previous close.

TSCO has been the topic of a number of other research reports. Morgan Stanley decreased their target price on shares of Tractor Supply from $57.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Wall Street Zen cut shares of Tractor Supply from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Gordon Haskett cut shares of Tractor Supply from an "accumulate" rating to a "hold" rating and reduced their price objective for the stock from $57.00 to $50.00 in a research note on Thursday, January 8th. Bank of America started coverage on shares of Tractor Supply in a research note on Tuesday, April 7th. They issued a "neutral" rating and a $47.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Tractor Supply from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.08.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded down $1.32 during midday trading on Wednesday, reaching $36.85. 7,232,407 shares of the company were exchanged, compared to its average volume of 7,320,823. The stock's 50-day moving average price is $47.59 and its 200-day moving average price is $51.34. The stock has a market cap of $19.38 billion, a P/E ratio of 18.06, a PEG ratio of 2.09 and a beta of 0.75. Tractor Supply has a one year low of $36.86 and a one year high of $63.99. The company has a quick ratio of 0.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.86.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.04). The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.64 billion. Tractor Supply had a return on equity of 42.58% and a net margin of 6.91%.The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. Tractor Supply has set its FY 2026 guidance at 2.130-2.230 EPS. On average, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Robert D. Mills sold 62,950 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total value of $3,406,854.00. Following the transaction, the executive vice president owned 122,834 shares in the company, valued at $6,647,776.08. The trade was a 33.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 1,929 shares of the business's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $53.94, for a total transaction of $104,050.26. Following the completion of the transaction, the chief financial officer owned 44,736 shares in the company, valued at approximately $2,413,059.84. The trade was a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,348 shares of company stock valued at $11,959,621 over the last quarter. Company insiders own 0.64% of the company's stock.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in TSCO. Garner Asset Management Corp acquired a new position in shares of Tractor Supply during the fourth quarter valued at about $25,000. Reflection Asset Management acquired a new position in shares of Tractor Supply during the fourth quarter valued at about $26,000. Aventura Private Wealth LLC acquired a new position in shares of Tractor Supply during the fourth quarter valued at about $27,000. Core Wealth Advisors LLC acquired a new position in shares of Tractor Supply during the fourth quarter valued at about $27,000. Finally, Bayban bought a new stake in shares of Tractor Supply during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Key Headlines Impacting Tractor Supply

Here are the key news stories impacting Tractor Supply this week:

• Positive Sentiment: Reaffirmed guidance, store growth and digital momentum: Q1 results showed net sales up 3.6% driven by 40 new stores and double‑digit digital growth; management kept FY 2026 guidance intact, which limits near‑term downside risk. Earnings Highlights
• Positive Sentiment: Income/contrarian angle: the stock’s drop has pushed yield higher and some retail commentary calls the name “oversold,” supporting a potential value/dividend trade for income investors. Fool: Dividend Opportunity
• Positive Sentiment: Some brokers still maintain bullish stances (Citigroup retained a buy rating despite cutting its target; DA Davidson has also kept a buy-oriented view even after lowering its target), indicating pockets of analyst support for upside—though targets were trimmed. (Benzinga coverage)
• Neutral Sentiment: Valuation comparison: analyses comparing Tractor Supply to peers like Petco (WOOF) suggest mixed signals on which is the better value right now—useful background but not a direct catalyst. Zacks: WOOF vs TSCO
• Negative Sentiment: Q1 miss and flat comps sparked the selloff: EPS and revenue both missed Street expectations and same‑store sales were essentially flat, the primary immediate driver of the decline. Why TSCO Is Down
• Negative Sentiment: Multiple analyst downgrades/target cuts: several large brokers trimmed price targets or lowered expectations (UBS, Mizuho, Morgan Stanley, Wells Fargo, Telsey, Piper Sandler, DA Davidson among others), increasing selling pressure and reducing near‑term upside consensus. Examples: UBS Pessimistic Mizuho Lowers Expectations Morgan Stanley Forecast
• Negative Sentiment: Technical/market reaction: the post‑earnings move set a new 52‑week low and triggered further momentum selling, amplifying the price decline. New 1-Year Low

About Tractor Supply

Tractor Supply Company NASDAQ: TSCO is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.

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