Tractor Supply (NASDAQ:TSCO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler has raised Tractor Supply's price target from $66.00 to $67.00, suggesting a potential upside of 13.71% from its previous close.
• Tractor Supply's recent earnings report showed an EPS of $0.81, surpassing estimates, with revenues of $4.44 billion, up 4.5% year-over-year.
• Analyst ratings show twelve buy ratings, eight hold ratings, and one sell rating for Tractor Supply's stock, indicating sentiment towards a Moderate Buy.
• Insider sales have occurred recently, with key executives selling shares, indicating a potential decrease in their ownership stakes.

Tractor Supply (NASDAQ:TSCO - Free Report) had its price objective increased by Piper Sandler from $66.00 to $67.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer's stock.

TSCO has been the subject of a number of other reports. Raymond James Financial decreased their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. UBS Group set a $54.00 price objective on Tractor Supply in a research report on Friday, April 25th. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price target (up from $60.00) on shares of Tractor Supply in a report on Thursday. Bank of America raised Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price target for the company in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Tractor Supply Trading Down 2.1%

Shares of TSCO traded down $1.22 during trading hours on Friday, hitting $58.11. 7,981,330 shares of the stock traded hands, compared to its average volume of 5,711,861. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $63.99. The firm has a market capitalization of $30.81 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The business has a fifty day moving average of $53.27 and a 200-day moving average of $53.38.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.01. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. Tractor Supply's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.93 earnings per share. Analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.58%. Tractor Supply's dividend payout ratio is currently 45.10%.

Insider Buying and Selling at Tractor Supply

In related news, EVP Jonathan S. Estep sold 35,825 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the sale, the executive vice president owned 74,605 shares in the company, valued at $4,177,880. The trade was a 32.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the senior vice president owned 29,722 shares in the company, valued at $1,538,410.72. This represents a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,810 shares of company stock worth $11,826,886 over the last three months. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bennett Selby Investments LP grew 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 worth $788,000 after acquiring an additional 191 shares during the last quarter. Hancock Whitney Corp grew its position in shares of Tractor Supply by 2.0% in the 1st quarter. Hancock Whitney Corp now owns 9,849 shares of the specialty retailer's stock valued at $543,000 after buying an additional 194 shares during the last quarter. Mount Vernon Associates Inc. MD grew its position in shares of Tractor Supply by 0.3% in the 2nd quarter. Mount Vernon Associates Inc. MD now owns 67,570 shares of the specialty retailer's stock valued at $3,566,000 after buying an additional 200 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Tractor Supply by 0.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 66,483 shares of the specialty retailer's stock valued at $3,663,000 after buying an additional 208 shares during the last quarter. Finally, Wedmont Private Capital grew its position in shares of 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 buying an additional 212 shares during the last quarter. Institutional investors own 98.72% of the company's stock.

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.