Tractor Supply (NASDAQ:TSCO) Price Target Lowered to $38.00 at Robert W. Baird

Tractor Supply (NASDAQ:TSCO) had its price target decreased by Robert W. Baird from $50.00 to $38.00 in a report published on Monday, MarketBeat reports. Robert W. Baird currently has an outperform rating on the specialty retailer’s stock.

A number of other analysts have also weighed in on TSCO. Truist Financial set a $32.00 price objective on shares of Tractor Supply and gave the stock a “hold” rating in a research report on Tuesday, June 16th. Bank of America started coverage on Tractor Supply in a research report on Tuesday, April 7th. They set a “neutral” rating and a $47.00 target price for the company. Raymond James Financial cut their target price on Tractor Supply from $48.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday. Mizuho set a $32.00 target price on Tractor Supply and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Barclays set a $35.00 price target on Tractor Supply and gave the stock an “equal weight” rating in a report on Monday, July 13th. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.88.

Tractor Supply Trading Down 0.7%

TSCO stock opened at $30.30 on Monday. Tractor Supply has a twelve month low of $28.36 and a twelve month high of $63.99. The stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 2.35 and a beta of 0.46. The company has a quick ratio of 0.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.86. The firm’s fifty day simple moving average is $30.66 and its two-hundred day simple moving average is $41.74.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). Tractor Supply had a return on equity of 42.58% and a net margin of 6.91%.The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the business posted $0.34 EPS. Tractor Supply’s revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Tractor Supply will post 2.08 earnings per share for the current year.

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Tractor Supply’s dividend payout ratio is presently 47.06%.

Hedge Funds Weigh In On Tractor Supply

Institutional investors have recently bought and sold shares of the business. JPL Wealth Management LLC purchased a new stake in Tractor Supply during the third quarter worth $28,000. Garner Asset Management Corp bought a new position in shares of Tractor Supply in the 4th quarter worth $25,000. Reflection Asset Management purchased a new stake in shares of Tractor Supply during the 4th quarter worth $26,000. Core Wealth Advisors LLC purchased a new stake in shares of Tractor Supply during the 4th quarter worth $27,000. Finally, Aventura Private Wealth LLC bought a new stake in Tractor Supply during the fourth quarter valued at about $27,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.