JPMorgan Chase & Co. Has Lowered Expectations for Tractor Supply (NASDAQ:TSCO) Stock Price

Tractor Supply (NASDAQ:TSCO) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $59.00 to $56.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 12.29% from the company’s current price.

A number of other equities analysts have also weighed in on TSCO. Raymond James dropped their price objective on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Truist Financial reduced their price objective on shares of Tractor Supply from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Guggenheim dropped their target price on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Citigroup reduced their price target on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Finally, Bank of America raised their price objective on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.02.

Tractor Supply Trading Up 1.8 %

Shares of TSCO stock opened at $49.87 on Monday. The company has a market cap of $26.51 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a fifty day moving average price of $52.70 and a 200-day moving average price of $54.62. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the firm earned $1.83 EPS. Tractor Supply’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply declared that its board has approved a share buyback program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Melissa Kersey sold 9,300 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the transaction, the executive vice president now owns 34,961 shares of the company’s stock, valued at approximately $1,858,876.37. This represents a 21.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now owns 31,787 shares of the company’s stock, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,993 shares of company stock valued at $7,538,068 in the last 90 days. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSCO. CIBC Private Wealth Group LLC increased its holdings in Tractor Supply by 385.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer’s stock valued at $59,260,000 after buying an additional 865,273 shares during the period. BOK Financial Private Wealth Inc. raised its position in shares of Tractor Supply by 330.2% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 21,355 shares of the specialty retailer’s stock worth $1,133,000 after acquiring an additional 16,391 shares in the last quarter. Blueshift Asset Management LLC lifted its stake in shares of Tractor Supply by 571.8% during the 4th quarter. Blueshift Asset Management LLC now owns 66,815 shares of the specialty retailer’s stock worth $3,545,000 after purchasing an additional 56,870 shares during the last quarter. Heritage Trust Co bought a new stake in Tractor Supply during the fourth quarter valued at about $1,829,000. Finally, Callan Family Office LLC purchased a new position in Tractor Supply in the fourth quarter valued at about $503,000. Hedge funds and other institutional investors own 98.72% 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 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.