Piper Sandler Issues Positive Forecast for Tractor Supply (NASDAQ:TSCO) Stock Price

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its target price increased by Piper Sandler from $60.00 to $66.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the specialty retailer's stock. Piper Sandler's price objective would suggest a potential upside of 17.56% from the company's previous close.

A number of other analysts also recently issued reports on the company. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a research note on Friday, April 25th. UBS Group set a $54.00 price objective on Tractor Supply in a research note on Friday, April 25th. Raymond James Financial reduced their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Guggenheim reduced their price objective on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company boosted their target price on Tractor Supply from $60.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.95.

Tractor Supply Price Performance

TSCO traded down $0.69 on Wednesday, hitting $56.14. 1,942,357 shares of the company's stock traded hands, compared to its average volume of 5,575,615. The company's 50 day simple moving average is $52.50 and its 200-day simple moving average is $53.16. The firm has a market cap of $29.77 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 3.02 and a beta of 0.75. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94.

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 the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.83 EPS. As a group, research analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the transaction, the senior vice president directly owned 29,722 shares of the company's stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Denise L. Jackson sold 2,000 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $57.75, for a total value of $115,500.00. Following the completion of the transaction, the director directly owned 32,288 shares of the company's stock, valued at approximately $1,864,632. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,445 shares of company stock worth $5,669,742. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pacific Point Advisors LLC increased its position in Tractor Supply by 6.0% during the 2nd quarter. Pacific Point Advisors LLC now owns 27,362 shares of the specialty retailer's stock valued at $1,444,000 after buying an additional 1,560 shares in the last quarter. Childress Capital Advisors LLC increased its position in Tractor Supply by 16.2% during the 2nd quarter. Childress Capital Advisors LLC now owns 4,307 shares of the specialty retailer's stock valued at $227,000 after buying an additional 601 shares in the last quarter. Liberty Capital Management Inc. increased its position in Tractor Supply by 9.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 58,678 shares of the specialty retailer's stock valued at $3,096,000 after buying an additional 5,193 shares in the last quarter. Bennett Selby Investments LP increased its position in Tractor Supply by 1.3% during the 2nd quarter. Bennett Selby Investments LP now owns 14,932 shares of the specialty retailer's stock valued at $788,000 after buying an additional 191 shares in the last quarter. Finally, Asio Capital LLC increased its position in Tractor Supply by 3.3% during the 2nd quarter. Asio Capital LLC now owns 93,543 shares of the specialty retailer's stock valued at $4,936,000 after buying an additional 2,956 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

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.