Tractor Supply (NASDAQ:TSCO) Price Target Lowered to $35.00 at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target on Tractor Supply from $47 to $35, while keeping an overweight rating on the stock. The new target still implies about 14.6% upside from the previous close.
• Analyst sentiment is mixed overall: Tractor Supply has 13 Buy ratings, 14 Hold ratings, and 1 Sell rating, with an average target price of $42.92. Several other firms also recently trimmed their targets.
• The company recently reported missed earnings and revenue estimates, posting $0.31 EPS versus $0.35 expected and $3.59 billion in revenue versus $3.64 billion expected. Shares opened at $30.55, near the stock’s 52-week low of $28.36.

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its target price cut by analysts at Wells Fargo & Company from $47.00 to $35.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the specialty retailer's stock. Wells Fargo & Company's target price suggests a potential upside of 14.57% from the stock's previous close.

A number of other brokerages have also issued reports on TSCO. Guggenheim reiterated a "buy" rating and issued a $50.00 target price (down from $60.00) on shares of Tractor Supply in a research report on Friday, June 5th. Truist Financial set a $32.00 price objective on shares of Tractor Supply and gave the company a "hold" rating in a report on Tuesday, June 16th. BNP Paribas Exane lowered their price objective on shares of Tractor Supply from $58.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen cut Tractor Supply from a "hold" rating to a "sell" rating in a report on Sunday. Finally, Argus cut their target price on Tractor Supply from $64.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Tractor Supply currently has an average rating of "Hold" and an average target price of $42.92.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $30.55 on Wednesday. The firm's 50 day moving average is $30.72 and its two-hundred day moving average is $42.32. The firm has a market capitalization of $16.02 billion, a P/E ratio of 14.98, a PEG ratio of 2.29 and a beta of 0.46. The company has a current ratio of 1.38, a quick ratio of 0.16 and a debt-to-equity ratio of 0.86. Tractor Supply has a 52 week low of $28.36 and a 52 week high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Tractor Supply had a net margin of 6.91% and a return on equity of 42.58%. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. Tractor Supply has set its FY 2026 guidance at 2.130-2.230 EPS. Analysts anticipate that Tractor Supply will post 2.11 earnings per share for the current year.

Institutional Trading of Tractor Supply

A number of large investors have recently added to or reduced their stakes in TSCO. Capital International Investors increased its stake in shares of Tractor Supply by 3.9% during the 4th quarter. Capital International Investors now owns 24,279,046 shares of the specialty retailer's stock worth $1,214,390,000 after purchasing an additional 902,659 shares during the last quarter. State Street Corp lifted its position in shares of Tractor Supply by 0.7% in the fourth quarter. State Street Corp now owns 23,051,776 shares of the specialty retailer's stock worth $1,152,819,000 after buying an additional 162,774 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Tractor Supply by 18.4% during the 4th quarter. Invesco Ltd. now owns 17,433,611 shares of the specialty retailer's stock worth $871,855,000 after acquiring an additional 2,706,819 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tractor Supply by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 15,873,514 shares of the specialty retailer's stock valued at $791,703,000 after acquiring an additional 184,457 shares during the last quarter. Finally, Capital World Investors lifted its holdings in Tractor Supply by 2.3% in the 4th quarter. Capital World Investors now owns 15,157,047 shares of the specialty retailer's stock worth $758,004,000 after purchasing an additional 336,040 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors.

About Tractor Supply

Tractor Supply Company NASDAQ: TSCO is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.

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