Tractor Supply (NASDAQ:TSCO) Price Target Raised to $280.00 at Evercore ISI

Tractor Supply (NASDAQ:TSCO) had its price objective upped by investment analysts at Evercore ISI from $275.00 to $280.00 in a research 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 would suggest a potential upside of 2.23% from the stock’s previous close.

Several other research firms have also recently issued reports on TSCO. Benchmark restated a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a report on Monday, April 22nd. Robert W. Baird raised their price objective on Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial raised their price objective on Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their price objective on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $248.17.

Tractor Supply Stock Performance

Tractor Supply stock opened at $273.90 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. The stock has a fifty day moving average of $252.44 and a two-hundred day moving average of $226.74. The company has a market capitalization of $29.56 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.97 and a beta of 0.84. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $274.66.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Insider Transactions at Tractor Supply

In other news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tractor Supply

Large investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC bought a new position in Tractor Supply during the fourth quarter worth $782,000. LPL Financial LLC lifted its stake in Tractor Supply by 4.6% in the third quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer’s stock valued at $23,122,000 after buying an additional 5,014 shares during the last quarter. Impax Asset Management Group plc lifted its stake in Tractor Supply by 2,120.1% in the fourth quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer’s stock valued at $26,194,000 after buying an additional 116,330 shares during the last quarter. Simon Quick Advisors LLC lifted its stake in Tractor Supply by 21.1% in the third quarter. Simon Quick Advisors LLC now owns 1,551 shares of the specialty retailer’s stock valued at $315,000 after buying an additional 270 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Tractor Supply by 32,987.5% in the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock valued at $58,128,000 after buying an additional 269,508 shares during the last quarter. 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.