Tractor Supply (NASDAQ:TSCO) Price Target Raised to $240.00

Tractor Supply (NASDAQ:TSCO) had its price objective raised by analysts at Barclays from $234.00 to $240.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price target would suggest a potential downside of 11.46% from the company’s previous close.

Several other analysts also recently commented on the company. Mizuho began coverage on Tractor Supply in a research note on Tuesday, March 19th. They set a “neutral” rating and a $245.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a research note on Monday. UBS Group raised their price objective on Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 price target on shares of Tractor Supply in a research note on Thursday. Finally, Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Tractor Supply currently has a consensus rating of “Hold” and an average target price of $243.22.

Tractor Supply Trading Up 2.2 %

TSCO traded up $5.81 during mid-day trading on Friday, reaching $271.07. The stock had a trading volume of 514,832 shares, compared to its average volume of 1,156,911. The stock has a market capitalization of $29.26 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. The firm’s fifty day simple moving average is $251.70 and its two-hundred day simple moving average is $226.10. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $274.66.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 EPS. On average, equities analysts predict that Tractor Supply will post 10.2 EPS for the current year.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the sale, the chief financial officer now directly owns 25,013 shares in the company, valued at $5,804,516.78. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock worth $21,201,877 over the last quarter. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. WCM Investment Management LLC acquired a new position in shares of Tractor Supply during the fourth quarter worth $782,000. LPL Financial LLC increased its holdings in shares of Tractor Supply by 4.6% during the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock worth $23,122,000 after buying an additional 5,014 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Tractor Supply by 2,120.1% in the fourth quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock valued at $26,194,000 after purchasing an additional 116,330 shares during the period. Simon Quick Advisors LLC increased its holdings in Tractor Supply by 21.1% in the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 270 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Tractor Supply by 32,987.5% in the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock valued at $58,128,000 after purchasing an additional 269,508 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.