Tractor Supply Company (NASDAQ:TSCO) Receives $61.80 Consensus Target Price from Analysts

Key Points

• Tractor Supply Company (NASDAQ:TSCO) has received a consensus rating of "Moderate Buy" from 20 brokerages, with an average 1-year price target of $61.80.
• Recent upgrades include Bank of America's "buy" rating with a price objective of $70.00, while Mizuho adjusted its target down to $58.00 with an "outperform" rating.
• Insiders sold approximately 105,610 shares of the company stock over the last quarter, with notable sales by SVP Matthew L. Rubin and Director Denise L. Jackson.

Shares of Tractor Supply Company (NASDAQ:TSCO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-one analysts that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $61.80.

TSCO has been the topic of several research analyst reports. Evercore ISI raised their price objective on Tractor Supply from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Friday. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a research report on Saturday. Stephens assumed coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 target price for the company. Raymond James Financial restated an "outperform" rating and set a $65.00 price objective (up from $57.00) on shares of Tractor Supply in a research note on Friday. Finally, Telsey Advisory Group set a $70.00 target price on Tractor Supply in a report on Friday.

Tractor Supply Price Performance

NASDAQ:TSCO traded down $1.22 during mid-day trading on Friday, reaching $58.11. 7,981,485 shares of the company were exchanged, compared to its average volume of 5,715,996. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $63.99. The company has a fifty day moving average of $53.27 and a 200 day moving average of $53.38. The stock has a market cap of $30.81 billion, a PE ratio of 28.51, a PEG ratio of 3.06 and a beta of 0.75. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 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 $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the previous year, the firm posted $3.93 earnings per share. Tractor Supply's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

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

Insider Activity

In related news, SVP Noni L. Ellison sold 5,200 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $332,592.00. Following the sale, the senior vice president owned 28,639 shares in the company, valued at approximately $1,831,750.44. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Denise L. Jackson sold 4,630 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.93, for a total transaction of $258,955.90. Following the transaction, the director owned 35,288 shares of the company's stock, valued at approximately $1,973,657.84. This represents a 11.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,810 shares of company stock worth $11,826,886. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Tractor Supply

Large investors have recently bought and sold shares of the business. Coppell Advisory Solutions LLC lifted its stake in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares during the last quarter. GW&K Investment Management LLC increased its stake in shares of Tractor Supply by 89.3% in the first quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after buying an additional 226 shares during the period. Dunhill Financial LLC boosted its position in Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after buying an additional 391 shares during the period. Pacific Center for Financial Services increased its position in Tractor Supply by 400.0% in the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 440 shares during the period. Finally, LRI Investments LLC increased its holdings in Tractor Supply by 400.0% in the fourth quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock valued at $33,000 after purchasing an additional 492 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

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.