Tractor Supply (NASDAQ:TSCO) Price Target Raised to $66.00 at Truist Financial

Key Points

• Truist Financial has raised its price target for Tractor Supply (NASDAQ:TSCO) from $60.00 to $66.00, indicating a potential upside of 11.83% from its current stock price.
• The specialty retailer has received mixed feedback from analysts, with 12 giving a buy rating, while others have issued sell and hold ratings, reflecting a consensus average target price of $61.05.
• Tractor Supply recently reported quarterly earnings of $0.81 per share, surpassing estimates and showing a 4.5% increase in revenue compared to the previous year.
• Insider activity has seen significant stock sales, with a director and an executive vice president reducing their holdings, indicating possible concerns among company leaders.

Tractor Supply (NASDAQ:TSCO - Free Report) had its price target raised by Truist Financial from $60.00 to $66.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the specialty retailer's stock.

Several other analysts also recently commented on TSCO. Guggenheim lowered their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a report on Friday, April 25th. Citigroup cut their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Telsey Advisory Group boosted their price target on shares of Tractor Supply from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America raised shares of Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Thursday. Finally, UBS Group boosted their price target on shares of Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.80.

Tractor Supply Stock Down 0.0%

Shares of TSCO stock traded down $0.01 on Friday, hitting $59.33. The stock had a trading volume of 7,589,239 shares, compared to its average volume of 6,122,455. The business has a 50 day moving average of $53.27 and a 200 day moving average of $53.39. The stock has a market cap of $31.46 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 3.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.17. 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 announced its earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.93 earnings per share. As a group, analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued 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 1.55%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president directly owned 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan S. Estep sold 35,825 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 74,605 shares in the company, valued at approximately $4,177,880. The trade was a 32.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,610 shares of company stock valued at $5,737,894. Corporate insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently modified their holdings of TSCO. NorthRock Partners LLC grew its position in Tractor Supply by 2.8% during the second quarter. NorthRock Partners LLC now owns 8,425 shares of the specialty retailer's stock worth $445,000 after buying an additional 233 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Tractor Supply by 10.9% during the second quarter. Sequoia Financial Advisors LLC now owns 124,428 shares of the specialty retailer's stock worth $6,566,000 after buying an additional 12,195 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new position in Tractor Supply during the second quarter worth about $49,131,000. Hazlett Burt & Watson Inc. grew its position in Tractor Supply by 89.6% during the second quarter. Hazlett Burt & Watson Inc. now owns 952 shares of the specialty retailer's stock worth $49,000 after buying an additional 450 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Tractor Supply by 56.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 111,118 shares of the specialty retailer's stock worth $6,009,000 after buying an additional 40,174 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other 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.