Tractor Supply (NASDAQ:TSCO) Price Target Cut to $60.00 by Analysts at Truist Financial

Tractor Supply (NASDAQ:TSCO) had its price target cut by Truist Financial from $63.00 to $60.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

TSCO has been the subject of several other research reports. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Raymond James lifted their price target on Tractor Supply from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Benchmark upped their price objective on shares of Tractor Supply from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Mizuho raised their target price on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Barclays cut their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus target price of $58.90.

Tractor Supply Trading Up 0.1 %

Shares of TSCO opened at $54.36 on Friday. Tractor Supply has a twelve month low of $44.35 and a twelve month high of $61.53. The stock has a market cap of $29.04 billion, a PE ratio of 26.44, a P/E/G ratio of 3.29 and a beta of 0.84. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The business’s 50-day moving average price is $55.24 and its 200-day moving average price is $55.23.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%. On average, equities analysts forecast that Tractor Supply will post 2.05 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, November 25th. Tractor Supply’s dividend payout ratio is 42.80%.

Hedge Funds Weigh In On Tractor Supply

A number of hedge funds have recently modified their holdings of TSCO. Henrickson Nauta Wealth Advisors Inc. boosted its stake in shares of Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock valued at $328,000 after purchasing an additional 35 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Tractor Supply by 0.5% during the 3rd quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock valued at $2,238,000 after acquiring an additional 37 shares during the period. Baldwin Investment Management LLC increased its stake in shares of Tractor Supply by 0.3% in the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock worth $3,317,000 after purchasing an additional 38 shares in the last quarter. TCI Wealth Advisors Inc. raised its holdings in Tractor Supply by 5.1% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock worth $246,000 after purchasing an additional 41 shares during the period. Finally, Huntington National Bank lifted its position in Tractor Supply by 0.7% during the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors 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.