Guggenheim Has Lowered Expectations for Tractor Supply (NASDAQ:TSCO) Stock Price

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its price target dropped by Guggenheim from $60.00 to $55.00 in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a "buy" rating on the specialty retailer's stock. Guggenheim's price objective would indicate a potential upside of 9.45% from the company's previous close.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Mizuho cut their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Barclays decreased their price target on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Truist Financial cut their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Robert W. Baird decreased their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Tractor Supply Trading Up 0.8 %

NASDAQ:TSCO traded up $0.38 during mid-day trading on Friday, hitting $50.25. 6,775,250 shares of the stock traded hands, compared to its average volume of 5,119,421. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $26.71 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 2.95 and a beta of 0.88. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53. The firm's 50 day moving average is $52.70 and its two-hundred day moving average is $54.62.

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

Tractor Supply announced that its board has initiated a share buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the business's stock in a transaction on 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 owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kurt D. Barton sold 12,146 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $56.00, for a total value of $680,176.00. Following the completion of the transaction, the chief financial officer now directly owns 47,715 shares of the company's stock, valued at $2,672,040. This represents a 20.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,993 shares of company stock valued at $7,538,068. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TSCO. Wedmont Private Capital boosted its stake in Tractor Supply by 2.5% in the 1st quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock valued at $450,000 after purchasing an additional 212 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in shares of Tractor Supply by 30.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 213 shares during the period. Procyon Advisors LLC raised its position in shares of Tractor Supply by 1.7% in the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock valued at $792,000 after buying an additional 238 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Tractor Supply by 5.5% in the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock valued at $258,000 after buying an additional 242 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in Tractor Supply by 2.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,785 shares of the specialty retailer's stock worth $594,000 after acquiring an additional 270 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

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.