Tractor Supply (NASDAQ:TSCO) Price Target Raised to $60.00 at Loop Capital

Key Points

• Loop Capital increased its price target for Tractor Supply from $48 to $60, indicating a potential upside of 1.14% from the current stock price.
• Several other analysts also revised their price targets, with DA Davidson setting a new target of $70 and maintaining a "buy" rating, while Citigroup reduced its target to $51 with a "neutral" rating.
• Tractor Supply reported a quarterly earnings per share (EPS) of $0.81, beating analysts' expectations, and achieving a net margin of 7.24% with a 4.5% increase in revenue year-over-year.

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its price target upped by Loop Capital from $48.00 to $60.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the specialty retailer's stock. Loop Capital's price target indicates a potential upside of 1.14% from the stock's current price.

A number of other equities analysts also recently weighed in on TSCO. DA Davidson lifted their target price on shares of Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday. Piper Sandler raised their price target on shares of Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday. Citigroup reduced their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Stephens initiated coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective for the company. Finally, Raymond James Financial lifted their price objective on shares of Tractor Supply from $57.00 to $65.00 and gave the company an "outperform" rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average price target of $61.80.

Tractor Supply Stock Down 0.0%

NASDAQ TSCO traded down $0.02 on Friday, reaching $59.32. The company had a trading volume of 6,192,752 shares, compared to its average volume of 5,679,476. The firm has a market capitalization of $31.45 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 3.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $63.99. The company's fifty day moving average is $53.14 and its 200-day moving average is $53.35.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. During the same period in the prior year, the firm earned $3.93 EPS. Tractor Supply's quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president directly owned 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan S. Estep sold 56,630 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the transaction, the executive vice president directly owned 74,605 shares of the company's stock, valued at $3,954,065. This represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,610 shares of company stock valued at $5,737,894 in the last 90 days. Company insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Tractor Supply

A number of large investors have recently modified their holdings of TSCO. Coppell Advisory Solutions LLC lifted its position 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 buying an additional 425 shares during the last quarter. GW&K Investment Management LLC increased 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. Dunhill Financial LLC increased its stake in Tractor Supply by 325.8% during the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 391 shares during the period. Pacific Center for Financial Services increased its stake in Tractor Supply by 400.0% during the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 440 shares during the period. Finally, LRI Investments LLC increased its stake in Tractor Supply by 400.0% during the fourth quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after purchasing an additional 492 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

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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