Evercore ISI Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $290.00

Tractor Supply (NASDAQ:TSCO) had its price objective trimmed by Evercore ISI from $295.00 to $290.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the specialty retailer’s stock.

Several other brokerages have also recently issued reports on TSCO. Morgan Stanley upped their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a research report on Friday, April 26th. Telsey Advisory Group upped their price target on shares of Tractor Supply from $280.00 to $305.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their price objective on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research report on Monday, March 25th. Piper Sandler increased their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an overweight rating in a research report on Monday, April 29th. Finally, TD Cowen increased their price objective on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a buy rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tractor Supply currently has a consensus rating of Hold and a consensus price target of $253.96.

Tractor Supply Price Performance

TSCO stock opened at $266.03 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The company has a 50 day simple moving average of $275.40 and a 200 day simple moving average of $251.29. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 3.51 and a beta of 0.81.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was up 2.8% on a year-over-year basis. Research analysts anticipate that Tractor Supply will post 10.34 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s dividend payout ratio is currently 42.84%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply during the first quarter worth about $26,000. Private Wealth Management Group LLC purchased a new position in Tractor Supply during the fourth quarter worth about $27,000. Pinnacle Bancorp Inc. purchased a new position in Tractor Supply during the fourth quarter worth about $28,000. Rise Advisors LLC boosted its holdings in Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Tractor Supply during the first quarter worth about $28,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Company Profile

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.