Tractor Supply (NASDAQ:TSCO) Now Covered by Bank of America

Equities researchers at Bank of America started coverage on shares of Tractor Supply (NASDAQ:TSCO) in a report released on Tuesday. The brokerage set a “neutral” rating and a $47.00 price target on the specialty retailer’s stock. Bank of America‘s target price indicates a potential upside of 7.27% from the company’s current price.

TSCO has been the topic of a number of other reports. Piper Sandler reduced their price objective on shares of Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. The Goldman Sachs Group set a $59.00 price objective on shares of Tractor Supply and gave the company a “buy” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. reduced their price objective on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Zacks Research downgraded shares of Tractor Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Finally, DA Davidson reissued a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 30th. Fourteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.78.

Tractor Supply Trading Down 3.5%

NASDAQ:TSCO traded down $1.57 during trading hours on Tuesday, hitting $43.82. The company had a trading volume of 588,974 shares, compared to its average volume of 6,870,456. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. The stock has a 50-day moving average price of $50.30 and a 200 day moving average price of $52.51. The company has a market capitalization of $23.05 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.19 and a beta of 0.75. Tractor Supply has a 52 week low of $43.35 and a 52 week high of $63.99.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, equities research analysts predict that Tractor Supply will post 2.17 EPS for the current fiscal year.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 11,170 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $55.35, for a total transaction of $618,259.50. Following the completion of the sale, the executive vice president owned 45,515 shares of the company’s stock, valued at $2,519,255.25. This represents a 19.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert D. Mills sold 62,950 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the sale, the executive vice president directly owned 122,834 shares of the company’s stock, valued at $6,647,776.08. The trade was a 33.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSCO. Norges Bank purchased a new stake in Tractor Supply in the 4th quarter worth approximately $303,862,000. Victory Capital Management Inc. increased its holdings in Tractor Supply by 719.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,508,661 shares of the specialty retailer’s stock worth $256,408,000 after acquiring an additional 3,958,205 shares in the last quarter. Select Equity Group L.P. boosted its stake in Tractor Supply by 41.9% in the 2nd quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after purchasing an additional 3,753,414 shares during the period. APG Asset Management N.V. boosted its stake in Tractor Supply by 505.1% in the 3rd quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer’s stock worth $246,222,000 after purchasing an additional 3,614,097 shares during the period. Finally, Invesco Ltd. boosted its stake in Tractor Supply by 18.4% in the 4th quarter. Invesco Ltd. now owns 17,433,611 shares of the specialty retailer’s stock worth $871,855,000 after purchasing an additional 2,706,819 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.