Tractor Supply (NASDAQ:TSCO) PT Raised to $332.00 at Piper Sandler

Tractor Supply (NASDAQ:TSCO) had its target price lifted by Piper Sandler from $300.00 to $332.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

Several other equities research analysts also recently weighed in on TSCO. Evercore ISI downgraded shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target for the company. in a research note on Thursday, October 3rd. Melius Research began coverage on Tractor Supply in a research report on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price for the company. Wedbush reiterated a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Loop Capital upped their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus price target of $269.55.

Tractor Supply Price Performance

Shares of NASDAQ TSCO opened at $302.80 on Monday. The company has a market capitalization of $32.66 billion, a PE ratio of 29.20, a P/E/G ratio of 3.81 and a beta of 0.80. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $307.64. The firm has a fifty day simple moving average of $278.47 and a 200 day simple moving average of $271.47.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. The business had revenue of $4.25 billion during 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 firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.83 earnings per share. On average, sell-side analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.45%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.43%.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Tractor Supply during the first quarter worth $26,000. LRI Investments LLC bought a new stake in Tractor Supply during the first quarter valued at approximately $28,000. Rise Advisors LLC grew its stake 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 buying an additional 66 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in shares of Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after buying an additional 98 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

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.