Tractor Supply (NASDAQ:TSCO) Price Target Raised to $61.00

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its price objective increased by Robert W. Baird from $56.00 to $61.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the specialty retailer's stock. Robert W. Baird's target price indicates a potential upside of 7.81% from the stock's previous close.

TSCO has been the subject of a number of other reports. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Piper Sandler lifted their price target on shares of Tractor Supply from $60.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price target on shares of Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Wall Street Zen cut shares of Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Wells Fargo & Company lifted their price target on shares of Tractor Supply from $60.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of "Moderate Buy" and a consensus price target of $58.65.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $56.58 on Monday. Tractor Supply has a 52 week low of $46.85 and a 52 week high of $61.53. The stock has a market capitalization of $30.00 billion, a P/E ratio of 28.09, a PEG ratio of 3.05 and a beta of 0.75. The firm has a fifty day simple moving average of $52.61 and a two-hundred day simple moving average of $53.19. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The business's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Denise L. Jackson sold 2,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $57.75, for a total value of $115,500.00. Following the completion of the sale, the director owned 32,288 shares in the company, valued at approximately $1,864,632. The trade was a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan S. Estep sold 35,825 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the completion of the sale, the executive vice president owned 74,605 shares of the company's stock, valued at approximately $4,177,880. This represents a 32.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,445 shares of company stock worth $5,669,742. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Coppell Advisory Solutions LLC grew its position 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 worth $25,000 after buying an additional 425 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of Tractor Supply by 89.3% in the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after buying an additional 226 shares during the last quarter. Whittier Trust Co. grew its position in shares of Tractor Supply by 400.0% in the 4th quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares during the last quarter. Dunhill Financial LLC grew its position in shares of Tractor Supply by 325.8% in 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 last quarter. Finally, Pacific Center for Financial Services grew its position in shares of Tractor Supply by 400.0% in the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after buying an additional 440 shares during the last quarter. 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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