Truist Financial Increases Tractor Supply (NASDAQ:TSCO) Price Target to $325.00

Tractor Supply (NASDAQ:TSCO) had its target price upped by equities research analysts at Truist Financial from $293.00 to $325.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s target price suggests a potential upside of 8.04% from the company’s current price.

Other analysts have also recently issued research reports about the company. Benchmark reaffirmed a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a research report on Monday, September 30th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Tractor Supply in a research report on Thursday, July 25th. Evercore ISI cut Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 target price for the company. in a research report on Thursday, October 3rd. Piper Sandler raised their target price on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.32.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $300.82 on Monday. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $32.43 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 3.73 and a beta of 0.80. The stock’s fifty day simple moving average is $277.45 and its 200 day simple moving average is $271.25. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $307.64.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.93. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.83 EPS. As a group, sell-side analysts forecast that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors have recently made changes to their positions in TSCO. V Square Quantitative Management LLC increased its stake in Tractor Supply by 29.5% during the fourth quarter. V Square Quantitative Management LLC now owns 2,082 shares of the specialty retailer’s stock valued at $448,000 after acquiring an additional 474 shares during the period. Vanguard Group Inc. increased its stake in Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock valued at $2,753,432,000 after acquiring an additional 48,439 shares during the period. Quadrature Capital Ltd bought a new position in Tractor Supply during the fourth quarter valued at about $1,465,000. HighPoint Advisor Group LLC bought a new position in Tractor Supply during the fourth quarter valued at about $510,000. Finally, Nomura Holdings Inc. bought a new position in Tractor Supply during the fourth quarter valued at about $468,000. 98.72% of the stock is currently owned by institutional investors.

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.