Tractor Supply (NASDAQ:TSCO) Price Target Raised to $250.00

Tractor Supply (NASDAQ:TSCO – Get Rating) had its target price upped by Citigroup from $240.00 to $250.00 in a report released on Friday, April 22nd, The Fly reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Citigroup’s price target indicates a potential upside of 17.58% from the stock’s previous close.

A number of other research firms have also issued reports on TSCO. Oppenheimer upgraded shares of Tractor Supply from a “market perform” rating to an “outperform” rating and set a $270.00 price objective on the stock in a research note on Friday, March 18th. They noted that the move was a valuation call. Wells Fargo & Company lifted their price objective on shares of Tractor Supply from $230.00 to $265.00 in a report on Wednesday, January 5th. Telsey Advisory Group lifted their price objective on shares of Tractor Supply from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, January 28th. Robert W. Baird reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Tractor Supply in a report on Thursday, April 14th. Finally, StockNews.com assumed coverage on shares of Tractor Supply in a report on Thursday, March 31st. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $238.70.

Shares of TSCO traded up $6.95 during mid-day trading on Friday, reaching $212.63. 1,068,581 shares of the company’s stock were exchanged, compared to its average volume of 1,068,099. Tractor Supply has a 52-week low of $170.82 and a 52-week high of $241.54. The company has a 50-day simple moving average of $222.28 and a two-hundred day simple moving average of $221.94. The company has a market cap of $23.85 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 2.17 and a beta of 1.03. The company has a quick ratio of 0.27, a current ratio of 1.44 and a debt-to-equity ratio of 0.57.

Tractor Supply (NASDAQ:TSCO – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.23. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.92 billion. Tractor Supply had a net margin of 7.74% and a return on equity of 51.48%. Tractor Supply’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, equities research analysts predict that Tractor Supply will post 9.49 EPS for the current fiscal year.

In related news, EVP Colin Yankee sold 6,659 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $217.64, for a total value of $1,449,264.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harry A. Lawton III sold 20,049 shares of the business’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $222.35, for a total value of $4,457,895.15. The disclosure for this sale can be found here. In the last three months, insiders sold 29,031 shares of company stock valued at $6,416,873. 0.23% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC acquired a new position in shares of Tractor Supply during the third quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Tractor Supply by 194.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 106 shares of the specialty retailer’s stock worth $25,000 after buying an additional 70 shares during the last quarter. Bell Investment Advisors Inc acquired a new position in shares of Tractor Supply in the third quarter valued at $26,000. Zullo Investment Group Inc. acquired a new position in shares of Tractor Supply in the fourth quarter valued at $26,000. Finally, Gradient Investments LLC acquired a new position in shares of Tractor Supply in the fourth quarter valued at $28,000. Institutional investors own 83.17% of the company’s stock.

Tractor Supply Company Profile (Get Rating)

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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