Tractor Supply (NASDAQ:TSCO) Receives $58.02 Consensus Target Price from Analysts

Tractor Supply (NASDAQ:TSCO - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $58.02.

A number of analysts have recently commented on the stock. Citigroup cut their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Stephens assumed coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Mizuho dropped their price target on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Robert W. Baird dropped their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th.

Tractor Supply Stock Up 1.5%

TSCO traded up $0.79 during trading on Tuesday, reaching $52.17. The company had a trading volume of 5,637,656 shares, compared to its average volume of 5,176,793. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53. The business's fifty day moving average price is $51.76 and its 200 day moving average price is $54.09. The company has a market cap of $27.66 billion, a P/E ratio of 25.57, a PEG ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. Equities analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply declared that its board has approved a stock buyback plan on Thursday, February 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.76%. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the transaction, the senior vice president now directly owns 31,787 shares in the company, valued at approximately $1,833,792.03. This represents a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors and hedge funds have recently modified their holdings of the business. Smithfield Trust Co increased its holdings in Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after buying an additional 352 shares during the period. Coppell Advisory Solutions LLC increased its stake in Tractor Supply by 944.4% in the fourth 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. PrairieView Partners LLC increased its stake in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 400 shares during the last quarter. GW&K Investment Management LLC increased its stake in 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 acquiring an additional 226 shares during the last quarter. Finally, Future Financial Wealth Managment LLC increased its stake in Tractor Supply by 400.0% in the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 400 shares during the last quarter. 98.72% of the stock is currently 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.