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

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by equities researchers at Barclays from $234.00 to $240.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price objective points to a potential downside of 11.46% from the stock’s current price.

Several other brokerages have also recently weighed in on TSCO. Raymond James cut shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $230.00 to $250.00 in a research report on Friday, February 2nd. Truist Financial raised their target price on shares of Tractor Supply from $256.00 to $277.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird increased their price target on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Stephens lowered shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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 trading on Friday, hitting $271.07. 514,832 shares of the stock traded hands, compared to its average volume of 1,156,911. The firm has a market capitalization of $29.26 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The firm has a 50-day moving average of $251.70 and a 200 day moving average of $226.10. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $274.66.

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

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 401 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in Tractor Supply in the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new stake in Tractor Supply in the 1st quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new stake in Tractor Supply in the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. purchased a new stake in Tractor Supply in the 4th quarter worth approximately $28,000. Finally, Rise Advisors LLC boosted its position in Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 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.