Tractor Supply’s (TSCO) Buy Rating Reiterated at Benchmark

Tractor Supply (NASDAQ:TSCO)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a report issued on Monday, Benzinga reports. They presently have a $280.00 target price on the specialty retailer’s stock. Benchmark’s price target would suggest a potential downside of 5.92% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Citigroup cut Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Evercore ISI lowered Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target for the company. in a research report on Thursday, October 3rd. Piper Sandler lifted their target price on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $272.50.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $297.62 on Monday. The company has a market cap of $32.10 billion, a PE ratio of 28.70, a P/E/G ratio of 3.74 and a beta of 0.80. The business has a 50 day moving average of $279.96 and a 200 day moving average of $272.03. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $307.64. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. Tractor Supply’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.83 earnings per share. As a group, equities research analysts forecast that Tractor Supply will post 10.23 earnings per share for the current year.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

Institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in Tractor Supply in the 1st quarter worth $26,000. LRI Investments LLC purchased a new position in Tractor Supply during the 1st quarter valued at approximately $28,000. Whittier Trust Co. grew its holdings in Tractor Supply by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. J.Safra Asset Management Corp increased its stake in Tractor Supply by 700.0% in the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 98 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Tractor Supply during the 2nd quarter worth approximately $33,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

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.