Tractor Supply (NASDAQ:TSCO) Price Target Raised to $264.00

Tractor Supply (NASDAQ:TSCO – Get Rating) had its price target upped by stock analysts at Piper Sandler from $256.00 to $264.00 in a report issued on Wednesday, The Fly reports. Piper Sandler’s target price suggests a potential upside of 12.19% from the stock’s previous close.

A number of other brokerages have also issued reports on TSCO. MKM Partners increased their price target on Tractor Supply from $230.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, January 19th. Gordon Haskett raised Tractor Supply from an “accumulate” rating to a “buy” rating and lifted their target price for the company from $235.00 to $255.00 in a research note on Friday, February 10th. Argus upped their price target on Tractor Supply from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $219.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. Finally, Credit Suisse Group assumed coverage on shares of Tractor Supply in a research report on Monday, December 19th. They set an “outperform” rating and a $260.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $247.18.

Tractor Supply Stock Up 1.7 %

TSCO stock opened at $235.32 on Wednesday. The business’s 50-day moving average price is $227.49 and its 200-day moving average price is $214.22. The stock has a market cap of $25.90 billion, a P/E ratio of 24.23, a PEG ratio of 2.19 and a beta of 0.83. The company has a quick ratio of 0.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.59. Tractor Supply has a twelve month low of $166.49 and a twelve month high of $241.54.

Tractor Supply (NASDAQ:TSCO – Get Rating) last released its earnings results on Thursday, January 26th. The specialty retailer reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.08. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 56.65%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.93 EPS. On average, equities research analysts forecast that Tractor Supply will post 10.46 EPS for the current year.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,001 shares of Tractor Supply stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $237.01, for a total transaction of $474,257.01. Following the completion of the transaction, the senior vice president now directly owns 3,658 shares of the company’s stock, valued at $866,982.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,067 shares of Tractor Supply stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $231.21, for a total transaction of $4,639,691.07. Following the completion of the transaction, the chief executive officer now directly owns 84,734 shares of the company’s stock, valued at $19,591,348.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 2,001 shares of Tractor Supply stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $237.01, for a total transaction of $474,257.01. Following the transaction, the senior vice president now directly owns 3,658 shares of the company’s stock, valued at $866,982.58. The disclosure for this sale can be found here. Insiders sold 38,091 shares of company stock valued at $8,840,560 over the last three months. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Tractor Supply by 0.4% during the first quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock valued at $2,994,964,000 after purchasing an additional 46,672 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tractor Supply by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 2,358,089 shares of the specialty retailer’s stock valued at $529,571,000 after purchasing an additional 71,025 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Tractor Supply by 84.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,159,008 shares of the specialty retailer’s stock valued at $485,712,000 after purchasing an additional 985,799 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Tractor Supply by 1,426.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 1,706,997 shares of the specialty retailer’s stock valued at $317,297,000 after purchasing an additional 1,595,151 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Tractor Supply by 30.8% during the fourth quarter. Morgan Stanley now owns 1,642,115 shares of the specialty retailer’s stock valued at $369,427,000 after purchasing an additional 387,155 shares during the period. 84.13% of the stock is owned by hedge funds and other institutional investors.

About Tractor Supply

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Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.