Evercore ISI Increases Tractor Supply (NASDAQ:TSCO) Price Target to $235.00

Tractor Supply (NASDAQ:TSCO) had its price objective raised by equities researchers at Evercore ISI from $230.00 to $235.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Evercore ISI’s target price suggests a potential upside of 8.10% from the stock’s current price.

Several other equities analysts also recently weighed in on TSCO. Telsey Advisory Group reiterated an “outperform” rating and issued a $265.00 target price on shares of Tractor Supply in a research note on Friday, July 28th. StockNews.com started coverage on Tractor Supply in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Guggenheim reduced their price target on Tractor Supply from $265.00 to $245.00 in a research report on Thursday, June 29th. Piper Sandler dropped their price objective on Tractor Supply from $262.00 to $256.00 and set an “overweight” rating on the stock in a report on Friday, July 28th. Finally, UBS Group reduced their target price on Tractor Supply from $247.00 to $230.00 and set a “neutral” rating for the company in a report on Friday, July 28th. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.83.

Tractor Supply Trading Down 0.7 %

Shares of TSCO stock opened at $217.39 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.60 and a debt-to-equity ratio of 0.84. The firm has a market cap of $23.65 billion, a P/E ratio of 21.72, a PEG ratio of 2.74 and a beta of 0.80. The company has a 50 day moving average of $219.08 and a 200-day moving average of $225.69. Tractor Supply has a 12-month low of $181.40 and a 12-month high of $251.17.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, July 27th. The specialty retailer reported $3.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.08). Tractor Supply had a return on equity of 55.57% and a net margin of 7.52%. The firm had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the business earned $3.53 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Tractor Supply will post 10.27 earnings per share for the current year.

Insider Activity at Tractor Supply

In other news, CFO Kurt D. Barton sold 7,487 shares of Tractor Supply stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $222.43, for a total value of $1,665,333.41. Following the transaction, the chief financial officer now owns 19,574 shares in the company, valued at $4,353,844.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Institutional investors have recently added to or reduced their stakes in the company. Synovus Financial Corp increased its holdings in Tractor Supply by 1.9% during the 1st quarter. Synovus Financial Corp now owns 5,006 shares of the specialty retailer’s stock valued at $1,166,000 after purchasing an additional 93 shares during the period. Cibc World Market Inc. increased its stake in shares of Tractor Supply by 10.4% during the first quarter. Cibc World Market Inc. now owns 12,622 shares of the specialty retailer’s stock valued at $2,946,000 after buying an additional 1,186 shares during the period. Sei Investments Co. raised its holdings in shares of Tractor Supply by 12.1% during the first quarter. Sei Investments Co. now owns 75,163 shares of the specialty retailer’s stock valued at $17,565,000 after acquiring an additional 8,129 shares in the last quarter. Prudential PLC purchased a new stake in Tractor Supply in the first quarter worth $611,000. Finally, Cetera Investment Advisers boosted its holdings in Tractor Supply by 15.8% in the first quarter. Cetera Investment Advisers now owns 6,238 shares of the specialty retailer’s stock valued at $1,456,000 after acquiring an additional 849 shares in the last quarter. Hedge funds and other institutional investors own 90.38% of the company’s stock.

Tractor Supply Company Profile

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.