Tractor Supply (NASDAQ:TSCO) Stock Rating Reaffirmed by Wedbush

Tractor Supply (NASDAQ:TSCO)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a research report issued on Tuesday, Benzinga reports. They presently have a $235.00 target price on the specialty retailer’s stock. Wedbush’s price target would indicate a potential downside of 8.96% from the stock’s current price.

Several other analysts have also recently commented on the company. Raymond James cut Tractor Supply from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $230.00 to $250.00 in a report on Friday, February 2nd. Guggenheim increased their target price on Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company increased their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Truist Financial raised their price target on Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of “Hold” and a consensus target price of $241.65.

Tractor Supply Stock Up 0.8 %

Shares of TSCO stock opened at $258.13 on Tuesday. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $268.02. The firm has a market cap of $27.86 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 3.81 and a beta of 0.84. The stock has a 50 day moving average of $251.14 and a 200-day moving average of $225.83. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. Tractor Supply’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.43 earnings per share. On average, equities analysts predict that Tractor Supply will post 10.2 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 over the last ninety days. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citizens National Bank Trust Department increased its holdings in Tractor Supply by 0.5% during the 4th quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock valued at $2,086,000 after purchasing an additional 45 shares during the period. Wedmont Private Capital grew its holdings in shares of Tractor Supply by 3.6% during the 1st quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock worth $331,000 after acquiring an additional 45 shares during the period. Wahed Invest LLC grew its holdings in shares of Tractor Supply by 2.8% during the 4th quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock worth $383,000 after acquiring an additional 49 shares during the period. Allen Capital Group LLC grew its holdings in shares of Tractor Supply by 0.6% during the 3rd quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,805,000 after acquiring an additional 53 shares during the period. Finally, Fidelis Capital Partners LLC grew its holdings in shares of Tractor Supply by 5.0% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,116 shares of the specialty retailer’s stock worth $240,000 after acquiring an additional 53 shares during the period. Institutional investors own 98.72% of the company’s stock.

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.