Brokers Offer Predictions for Tractor Supply’s Q2 2024 Earnings (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) – Analysts at DA Davidson issued their Q2 2024 EPS estimates for Tractor Supply in a research report issued on Friday, April 26th. DA Davidson analyst M. Baker anticipates that the specialty retailer will post earnings of $3.95 per share for the quarter. The consensus estimate for Tractor Supply’s current full-year earnings is $10.26 per share. DA Davidson also issued estimates for Tractor Supply’s FY2025 earnings at $11.70 EPS.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company lifted their target price on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Piper Sandler boosted their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday. Benchmark restated a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a report on Monday, April 22nd. Morgan Stanley lifted their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Wedbush restated a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $250.00.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $277.88 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The firm has a market cap of $29.99 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 3.47 and a beta of 0.84. Tractor Supply has a one year low of $185.00 and a one year high of $278.16. The stock’s 50-day moving average is $253.27 and its 200-day moving average is $227.47.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 EPS.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC grew its position in Tractor Supply by 160.5% during the third quarter. Exchange Traded Concepts LLC now owns 2,373 shares of the specialty retailer’s stock worth $482,000 after buying an additional 1,462 shares in the last quarter. Private Trust Co. NA raised its stake in Tractor Supply by 10.0% in the third quarter. Private Trust Co. NA now owns 734 shares of the specialty retailer’s stock valued at $149,000 after purchasing an additional 67 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Tractor Supply by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 47,497 shares of the specialty retailer’s stock worth $9,644,000 after purchasing an additional 290 shares during the period. Simplicity Solutions LLC grew its stake in Tractor Supply by 8.4% during the third quarter. Simplicity Solutions LLC now owns 3,890 shares of the specialty retailer’s stock worth $790,000 after buying an additional 301 shares in the last quarter. Finally, Golden State Equity Partners bought a new position in Tractor Supply in the 3rd quarter valued at about $203,000. 98.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 725 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the sale, the senior vice president now owns 5,710 shares in the company, valued at approximately $1,359,493.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the sale, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew L. Rubin sold 725 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $238.09, for a total value of $172,615.25. Following the completion of the transaction, the senior vice president now directly owns 5,710 shares in the company, valued at $1,359,493.90. The disclosure for this sale can be found here. Insiders have sold a total of 90,090 shares of company stock worth $21,201,877 over the last ninety days. Insiders own 0.58% of the company’s stock.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.58%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s payout ratio is 42.84%.

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.