Piper Sandler Cuts Tractor Supply (NASDAQ:TSCO) Price Target to $51.00

Key Points

• Piper Sandler cut its price target on Tractor Supply to $51.00 (from $59.00) while keeping an "overweight" rating, a target that still implies roughly a 29% upside from current levels.
• Tractor Supply missed Q1 estimates (EPS $0.31 vs. ~$0.35 expected; revenue $3.59B vs. ~$3.64B), suffered margin compression and a pullback in operating income, though management reaffirmed FY2026 guidance of $2.13–$2.23 EPS.
• Insiders have been net sellers (222,348 shares worth about $12.0M in the last 90 days), yet Wall Street consensus remains a "Moderate Buy" with an average target near $56.09.

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its target price lowered by investment analysts at Piper Sandler from $59.00 to $51.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the specialty retailer's stock. Piper Sandler's price objective would suggest a potential upside of 28.89% from the company's current price.

Several other equities analysts have also weighed in on TSCO. Gordon Haskett lowered shares of Tractor Supply from an "accumulate" rating to a "hold" rating and cut their target price for the company from $57.00 to $50.00 in a report on Thursday, January 8th. Robert W. Baird set a $60.00 target price on shares of Tractor Supply and gave the company an "outperform" rating in a report on Friday. DA Davidson reaffirmed a "buy" rating and set a $60.00 target price on shares of Tractor Supply in a report on Thursday, April 16th. Mizuho cut their target price on shares of Tractor Supply from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, January 30th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $57.00 target price on shares of Tractor Supply in a report on Friday, January 30th. Fourteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.09.

Tractor Supply Price Performance

NASDAQ:TSCO opened at $39.57 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. The firm has a market cap of $20.81 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The company has a 50 day moving average price of $48.23 and a 200-day moving average price of $51.52. Tractor Supply has a 1-year low of $38.92 and a 1-year high of $63.99.

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 the consensus estimate of $0.35 by ($0.04). The firm had revenue of $3.59 billion for the quarter, compared to analysts' expectations of $3.64 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. Tractor Supply's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. Tractor Supply has set its FY 2026 guidance at 2.130-2.230 EPS. Equities research analysts forecast that Tractor Supply will post 2.18 EPS for the current year.

Insider Buying and Selling

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 completion of the sale, the executive vice president owned 122,834 shares of the company's stock, valued at approximately $6,647,776.08. The trade was a 33.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan S. Estep sold 59,745 shares of the business's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the completion of the sale, the executive vice president directly owned 80,931 shares of the company's stock, valued at approximately $4,372,701.93. The trade was a 42.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,348 shares of company stock worth $11,959,621 in the last 90 days. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Network Wealth Advisors LLC boosted its stake in Tractor Supply by 8.0% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 2,465 shares of the specialty retailer's stock worth $140,000 after purchasing an additional 182 shares during the last quarter. Advyzon Investment Management LLC boosted its stake in Tractor Supply by 4.3% during the 4th quarter. Advyzon Investment Management LLC now owns 4,462 shares of the specialty retailer's stock worth $223,000 after purchasing an additional 183 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in Tractor Supply by 0.6% during the 3rd quarter. Perigon Wealth Management LLC now owns 34,036 shares of the specialty retailer's stock worth $1,936,000 after purchasing an additional 200 shares during the last quarter. Field & Main Bank boosted its stake in Tractor Supply by 1.1% during the 4th quarter. Field & Main Bank now owns 18,835 shares of the specialty retailer's stock worth $942,000 after purchasing an additional 200 shares during the last quarter. Finally, Oak Thistle LLC boosted its stake in Tractor Supply by 0.9% during the 4th quarter. Oak Thistle LLC now owns 24,911 shares of the specialty retailer's stock worth $1,246,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply News Roundup

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

• Positive Sentiment: Company reaffirmed full‑year fiscal 2026 guidance (EPS $2.13–2.23; revenue $16.1–16.5B), which reduces downside risk that a guide‑down would have created. Tractor Supply Company Reports First Quarter 2026 Financial Results; Reaffirms Fiscal Year 2026 Outlook
• Positive Sentiment: Gross margin held up (around mid‑30s), and digital/ subscription channels showed strong growth — signs the business has durable profit levers if traffic recovers. Tractor Supply Q1 analysis
• Positive Sentiment: Management is executing strategic initiatives (store expansion, Project Fusion, pet-category reset including expanded premium/frozen pet food rollout) that could drive recovery in under‑performing categories. Strategic initiatives and category fixes
• Neutral Sentiment: Comparable‑store sales were modestly positive (+0.5%) with higher ticket but fewer transactions — this mix is survivable but implies consumer trip consolidation that could limit near‑term volume recovery. Q1 comps and metrics
• Neutral Sentiment: Wall Street still has higher price targets (median around the mid‑$50s to high‑$50s), suggesting analysts see longer‑term upside even as near‑term results disappoint. Analyst targets and institutional activity
• Negative Sentiment: Q1 EPS missed estimates ($0.31 vs. consensus ~$0.35) and revenue missed (~$3.59B vs. ~$3.64B), the core reason the stock sold off as earnings power came in weaker than modeled. Earnings and revenue miss
• Negative Sentiment: Operating income and margins compressed (operating income down mid‑single digits) as SG&A rose faster than sales and delivery/tariff costs weighed — investors worry about near‑term profit deterioration. Margin pressure and cost headwinds
• Negative Sentiment: Market reacted sharply (heavy volume, price down to fresh lows) and the CEO signaled need for "decisive action," indicating management sees material work to restore momentum — increases execution risk near term. CEO comments and market reaction

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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