Barclays Increases Tractor Supply (NASDAQ:TSCO) Price Target to $234.00

Tractor Supply (NASDAQ:TSCO) had its target price boosted by research analysts at Barclays from $192.00 to $234.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s target price suggests a potential downside of 5.40% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Evercore ISI cut their target price on Tractor Supply from $280.00 to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group upped their price objective on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wedbush increased their target price on Tractor Supply from $200.00 to $235.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Truist Financial boosted their target price on shares of Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, Mizuho assumed coverage on Tractor Supply in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $245.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $240.57.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $247.35 on Wednesday. The company has a market cap of $26.70 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.68 and a beta of 0.84. The business’s 50 day moving average price is $249.54 and its 200-day moving average price is $224.28. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $268.02. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50.

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

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares in the company, valued at approximately $5,804,516.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan S. Estep sold 7,120 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the sale, the executive vice president now owns 13,605 shares of the company’s stock, valued at $3,159,897.30. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Tractor Supply by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock worth $2,994,964,000 after buying an additional 46,672 shares during the last quarter. Capital International Investors raised its holdings in shares of Tractor Supply by 7.6% during the fourth quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares during the last quarter. Capital World Investors lifted its position in Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the period. Wellington Management Group LLP lifted its position in Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock valued at $990,526,000 after purchasing an additional 1,784,304 shares during the period. Finally, State Street Corp boosted its holdings in Tractor Supply by 0.8% in the first quarter. State Street Corp now owns 4,459,754 shares of the specialty retailer’s stock valued at $1,048,209,000 after purchasing an additional 34,281 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other 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.