Tractor Supply (NASDAQ:TSCO) Price Target Cut to $275.00

Tractor Supply (NASDAQ:TSCO) had its price objective lowered by investment analysts at Evercore ISI from $280.00 to $275.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Evercore ISI’s price objective would suggest a potential upside of 11.16% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a research note on Wednesday, April 3rd. Stephens downgraded shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Telsey Advisory Group increased their price target on shares of Tractor Supply from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. UBS Group increased their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Guggenheim raised their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $240.57.

Tractor Supply Trading Up 1.0 %

Shares of TSCO opened at $247.39 on Tuesday. The firm’s 50-day moving average is $249.23 and its two-hundred day moving average is $224.12. The firm has a market capitalization of $26.70 billion, a P/E ratio of 24.52, a PEG ratio of 3.64 and a beta of 0.84. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $268.02. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, beating the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.43 earnings per share. On average, research analysts predict that Tractor Supply will post 10.19 earnings per share for the current fiscal year.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently made changes to their positions in the business. Red Door Wealth Management LLC purchased a new position in shares of Tractor Supply in the first quarter worth approximately $206,000. Atticus Wealth Management LLC increased its position in shares of Tractor Supply by 351.0% in the first quarter. Atticus Wealth Management LLC now owns 451 shares of the specialty retailer’s stock worth $118,000 after acquiring an additional 351 shares in the last quarter. Brown Miller Wealth Management LLC increased its position in shares of Tractor Supply by 157.8% in the first quarter. Brown Miller Wealth Management LLC now owns 7,695 shares of the specialty retailer’s stock worth $2,014,000 after acquiring an additional 4,710 shares in the last quarter. Home Federal Bank of Tennessee purchased a new position in shares of Tractor Supply in the first quarter worth approximately $214,000. Finally, Romano Brothers AND Company purchased a new position in shares of Tractor Supply in the first quarter worth approximately $213,000. Institutional investors and hedge funds 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.