Tractor Supply (NASDAQ:TSCO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its target price increased by research analysts at Wells Fargo & Company from $60.00 to $63.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the specialty retailer's stock. Wells Fargo & Company's price objective points to a potential upside of 11.55% from the company's current price.

Several other research firms have also weighed in on TSCO. Guggenheim lowered their price target on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Citigroup lowered their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Wall Street Zen lowered Tractor Supply from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Raymond James Financial lowered their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their target price on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.95.

Tractor Supply Stock Up 0.8%

Shares of NASDAQ:TSCO traded up $0.44 during mid-day trading on Tuesday, reaching $56.48. 964,517 shares of the stock were exchanged, compared to its average volume of 5,152,617. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The company has a market cap of $29.94 billion, a P/E ratio of 28.01, a P/E/G ratio of 3.03 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 stock's 50 day simple moving average is $52.39 and its 200-day simple moving average is $53.13.

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

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president directly owned 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The transaction was disclosed in a legal filing 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 on Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the transaction, the executive vice president directly owned 74,605 shares of the company's stock, valued at $4,177,880. This trade represents a 32.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 104,445 shares of company stock worth $5,669,742. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Tractor Supply by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 66,631,422 shares of the specialty retailer's stock worth $3,671,391,000 after purchasing an additional 2,597,450 shares in the last quarter. Wellington Management Group LLP increased its holdings in Tractor Supply by 16.0% in the 1st quarter. Wellington Management Group LLP now owns 27,604,769 shares of the specialty retailer's stock worth $1,521,023,000 after purchasing an additional 3,815,520 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Tractor Supply by 10.8% in the 1st quarter. Alliancebernstein L.P. now owns 24,664,907 shares of the specialty retailer's stock worth $1,359,036,000 after purchasing an additional 2,408,373 shares in the last quarter. Capital World Investors increased its holdings in Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares in the last quarter. Finally, Capital International Investors increased its holdings in Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after purchasing an additional 11,880,010 shares in the last quarter. Institutional investors and hedge funds 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.