Benchmark Reaffirms Buy Rating for Tractor Supply (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a research note issued to investors on Monday, Benzinga reports. They presently have a $280.00 price target on the specialty retailer’s stock. Benchmark’s target price would suggest a potential downside of 2.15% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wedbush reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Melius Research initiated coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price for the company. Truist Financial upped their price target on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Loop Capital raised their price objective on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $260.83.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $286.14 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 company has a market capitalization of $30.85 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 3.49 and a beta of 0.80. The firm has a 50 day moving average of $268.74 and a 200 day moving average of $267.97. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38.

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

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on 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 directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSCO. Vanguard Group Inc. boosted its stake in shares of Tractor Supply by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after acquiring an additional 48,439 shares in the last quarter. Capital International Investors boosted its position in Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Capital World Investors grew its holdings in Tractor Supply by 10.0% in the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the period. Wellington Management Group LLP raised its stake in shares of Tractor Supply by 63.2% during the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after buying an additional 1,784,304 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Tractor Supply by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after buying an additional 368,859 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.