Robert W. Baird Forecasts Strong Price Appreciation for Tractor Supply (NASDAQ:TSCO) Stock

Key Points

• Robert W. Baird raised Tractor Supply's price target from $65.00 to $67.00, indicating a potential upside of 18.90% from its previous close and maintaining an "outperform" rating on the stock.
• Several analysts have upgraded their ratings and price targets for Tractor Supply, including a $70.00 price target by DA Davidson and an "outperform" rating by Wolfe Research.
• Tractor Supply reported $0.49 earnings per share for the last quarter, surpassing analyst expectations, with a revenue increase of 7.2% compared to the same period last year.

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its price objective hoisted by research analysts at Robert W. Baird from $65.00 to $67.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the specialty retailer's stock. Robert W. Baird's price objective suggests a potential upside of 18.90% from the company's previous close.

Other analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. DA Davidson lifted their target price on shares of Tractor Supply from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Loop Capital lifted their target price on shares of Tractor Supply from $48.00 to $60.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Wolfe Research assumed coverage on shares of Tractor Supply in a research report on Thursday, September 18th. They issued an "outperform" rating and a $70.00 target price on the stock. Finally, Raymond James Financial reissued an "outperform" rating and issued a $65.00 price target (up from $57.00) on shares of Tractor Supply in a research note on Friday, July 25th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $62.75.

Tractor Supply Stock Up 2.8%

TSCO stock opened at $56.35 on Friday. The firm's fifty day moving average is $58.29 and its 200 day moving average is $55.01. Tractor Supply has a one year low of $46.85 and a one year high of $63.99. The firm has a market cap of $29.86 billion, a PE ratio of 27.65, a P/E/G ratio of 2.81 and a beta of 0.73. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business earned $0.45 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. Tractor Supply has set its FY 2025 guidance at 2.060-2.130 EPS. On average, research analysts forecast that Tractor Supply will post 2.17 EPS for the current year.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 6,680 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $58.40, for a total value of $390,112.00. Following the transaction, the executive vice president directly owned 40,142 shares of the company's stock, valued at approximately $2,344,292.80. This trade represents a 14.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Tractor Supply

Institutional investors have recently bought and sold shares of the company. GW&K Investment Management LLC raised its stake in Tractor Supply by 89.3% during the first quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 226 shares during the period. Delos Wealth Advisors LLC purchased a new position in Tractor Supply during the second quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in Tractor Supply during the second quarter worth about $35,000. Financial Gravity Asset Management Inc. purchased a new position in Tractor Supply during the first quarter worth about $39,000. Finally, Financial Gravity Companies Inc. purchased a new position in Tractor Supply during the second quarter worth about $38,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.

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