Tractor Supply (NASDAQ:TSCO) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI raised its target price for Tractor Supply stock from $60.00 to $65.00, indicating a potential upside of 10.32%.
• Other financial institutions show varying ratings, with Bank of America upgrading to "buy" at $70.00 and Citigroup lowering its target price to $51.00.
• Tractor Supply reported earnings of $0.81 per share, exceeding analyst expectations and marking a 4.5% increase in quarterly revenue year-over-year.
• Insider transactions include the sale of over 105,000 shares by executives, suggesting potential shifts in management confidence in the stock.

Tractor Supply (NASDAQ:TSCO - Free Report) had its price objective raised by Evercore ISI from $60.00 to $65.00 in a report published on Friday,Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer's stock.

A number of other analysts have also weighed in on TSCO. Citigroup lowered their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Wall Street Zen cut shares of Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. raised their price objective on shares of Tractor Supply from $56.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Stephens initiated coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded down $1.22 during midday trading on Friday, reaching $58.11. The company had a trading volume of 7,981,330 shares, compared to its average volume of 5,711,861. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The stock has a fifty day simple moving average of $53.27 and a 200 day simple moving average of $53.38. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. Tractor Supply's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.93 earnings per share. As a group, equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.23 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.58%. Tractor Supply's payout ratio is currently 45.10%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction on Monday, July 7th. The shares were sold at an average price of $56.00, for a total value of $2,006,200.00. Following the sale, the executive vice president directly owned 74,605 shares in the company, valued at approximately $4,177,880. The trade was a 32.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president owned 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,810 shares of company stock worth $11,826,886. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Uptick Partners LLC increased its stake in Tractor Supply by 47.3% in the 2nd quarter. Uptick Partners LLC now owns 5,523 shares of the specialty retailer's stock valued at $291,000 after buying an additional 1,773 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Tractor Supply by 6.3% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 6,533 shares of the specialty retailer's stock worth $345,000 after purchasing an additional 388 shares during the last quarter. Mutual Advisors LLC increased its stake in shares of Tractor Supply by 10.9% during the 2nd quarter. Mutual Advisors LLC now owns 12,611 shares of the specialty retailer's stock worth $665,000 after purchasing an additional 1,241 shares during the last quarter. JGP Wealth Management LLC increased its stake in shares of Tractor Supply by 1.8% during the 2nd quarter. JGP Wealth Management LLC now owns 263,587 shares of the specialty retailer's stock worth $13,909,000 after purchasing an additional 4,550 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its stake in shares of Tractor Supply by 8.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 4,855 shares of the specialty retailer's stock worth $251,000 after purchasing an additional 378 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Company Profile

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.