Tractor Supply (NASDAQ:TSCO) Stock Breaks Above Fifty Day Moving Average - Here's What Happened

Key Points

• Tractor Supply shares rose 6.5%, trading above their 50-day moving average of $33.31 and reaching $33.66, although they remained below the 200-day average of $38.36.
• The retailer beat quarterly expectations, reporting adjusted EPS of $0.43 versus $0.41 expected and revenue of $3.91 billion versus $3.82 billion, with sales up 5.1% year over year.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $38.62 price target, while the company pays a quarterly dividend of $0.24, equivalent to a 2.9% annual yield.

Tractor Supply Company (NASDAQ:TSCO - Get Free Report)'s share price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $33.31 and traded as high as $33.66. Tractor Supply shares last traded at $33.65, with a volume of 9,422,764 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wolfe Research set a $34.00 price target on Tractor Supply in a research report on Thursday, July 16th. Telsey Advisory Group reissued an "outperform" rating and set a $40.00 price objective (up from $38.00) on shares of Tractor Supply in a report on Friday, October 23rd. Morgan Stanley reissued a "negative" rating and set a $35.00 price objective on shares of Tractor Supply in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Tractor Supply from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, October 23rd. Finally, Truist Financial set a $33.00 target price on shares of Tractor Supply and gave the company a "hold" rating in a research note on Monday, October 19th. Thirteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.62.

Tractor Supply Stock Up 6.5%

The business's 50 day moving average price is $33.31 and its 200-day moving average price is $38.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.20. The company has a market cap of $17.65 billion, a P/E ratio of 18.09, a PEG ratio of 3.28 and a beta of 0.52.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, October 22nd. The specialty retailer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.82 billion. Tractor Supply had a return on equity of 40.05% and a net margin of 6.13%. Tractor Supply's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. On average, analysts anticipate that Tractor Supply Company will post 1.94 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were given a $0.24 dividend. The ex-dividend date was Monday, August 24th. This represents a $0.96 annualized dividend and a yield of 2.9%. Tractor Supply's payout ratio is presently 51.61%.

Insiders Place Their Bets

In other Tractor Supply news, Director Andre Hawaux acquired 3,150 shares of Tractor Supply stock in a transaction on Monday, August 3rd. The shares were bought at an average price of $31.83 per share, with a total value of $100,264.50. Following the completion of the purchase, the director owned 3,150 shares in the company, valued at $100,264.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edna Morris bought 1,560 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average price of $32.44 per share, for a total transaction of $50,606.40. Following the acquisition, the director directly owned 279,720 shares of the company's stock, valued at approximately $9,074,116.80. The trade was a 0.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 20,310 shares of company stock valued at $652,411. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

Hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC increased its position in Tractor Supply by 1,253.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 785 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 727 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in shares of Tractor Supply in the second quarter worth about $26,000. Community Financial Services Group LLC lifted its position in shares of Tractor Supply by 3,240.0% during the second quarter. Community Financial Services Group LLC now owns 835 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 810 shares in the last quarter. Bullseye Investment Management LLC acquired a new position in shares of Tractor Supply during the second quarter worth approximately $31,000. Finally, Pingora Partners LLC acquired a new position in shares of Tractor Supply during the second quarter worth approximately $32,000. Institutional investors own 98.72% of the company's stock.

About Tractor Supply

Tractor Supply Company NASDAQ: TSCO is a specialty retailer serving the needs of farmers, ranchers, hobby farmers, pet owners, gardeners and other rural lifestyle customers. The company operates under the Tractor Supply banner and focuses on products that support everyday rural living, land maintenance and animal care.

Its merchandise includes livestock and pet feed, animal health and care products, fencing, hardware, tools, power equipment, lawn and garden supplies, work clothing, footwear, automotive products and seasonal goods.

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