Tractor Supply (NASDAQ:TSCO) Upgraded at Morgan Stanley

Key Points

• Morgan Stanley upgraded Tractor Supply from an "underweight" to an "equal weight" rating, increasing the target price from $50.00 to $60.00, indicating a potential upside of 6.48% from its previous close.
• Fifteen research analysts have rated Tractor Supply with a Buy rating and eight have given a Hold rating, reflecting strong market confidence.
• Tractor Supply reported a quarterly revenue of $3.72 billion, showing a 7.2% increase compared to the same quarter last year, along with EPS of $0.49 that beat expectations.

Tractor Supply (NASDAQ:TSCO - Get Free Report) was upgraded by Morgan Stanley from an "underweight" rating to an "equal weight" rating in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a $60.00 target price on the specialty retailer's stock, up from their previous target price of $50.00. Morgan Stanley's target price points to a potential upside of 6.48% from the stock's previous close.

A number of other research firms also recently weighed in on TSCO. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Tractor Supply in a research report on Friday, July 25th. Wall Street Zen raised shares of Tractor Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Citigroup raised shares of Tractor Supply from a "neutral" rating to a "buy" rating and upped their target price for the stock from $60.00 to $62.00 in a research report on Thursday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Bank of America raised shares of Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price on the stock in a research report on Thursday, July 24th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.62.

Tractor Supply Stock Up 2.8%

Shares of Tractor Supply stock opened at $56.35 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company's fifty day simple moving average is $58.29 and its two-hundred day simple moving average is $55.01. The company has a market cap of $29.86 billion, a P/E ratio of 27.65, a PEG ratio of 2.81 and a beta of 0.73. Tractor Supply has a 12-month low of $46.85 and a 12-month high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.01. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.72 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. Tractor Supply has set its FY 2025 guidance at 2.060-2.130 EPS. Research analysts anticipate that Tractor Supply will post 2.17 EPS for the current year.

Insider Buying and Selling

In related news, EVP Colin Yankee sold 6,680 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $58.40, for a total transaction of $390,112.00. Following the sale, the executive vice president directly owned 40,142 shares of the company's stock, valued at approximately $2,344,292.80. This represents a 14.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Tractor Supply by 10.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,693 shares of the specialty retailer's stock valued at $3,850,000 after acquiring an additional 6,381 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Tractor Supply by 32.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 60,601 shares of the specialty retailer's stock valued at $3,446,000 after acquiring an additional 14,816 shares during the period. Tributary Capital Management LLC lifted its stake in Tractor Supply by 30.9% during the 3rd quarter. Tributary Capital Management LLC now owns 35,132 shares of the specialty retailer's stock valued at $1,998,000 after acquiring an additional 8,284 shares during the period. Lecap Asset Management Ltd. bought a new position in Tractor Supply during the 3rd quarter valued at about $253,000. Finally, HB Wealth Management LLC lifted its stake in Tractor Supply by 11.0% during the 3rd quarter. HB Wealth Management LLC now owns 20,929 shares of the specialty retailer's stock valued at $1,190,000 after acquiring an additional 2,082 shares during the period. 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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