Barclays Increases Tractor Supply (NASDAQ:TSCO) Price Target to $240.00

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by stock analysts at Barclays from $234.00 to $240.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price objective would suggest a potential downside of 12.38% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group reissued an “outperform” rating and set a $275.00 price target on shares of Tractor Supply in a research report on Thursday. The Goldman Sachs Group boosted their price target on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Guggenheim boosted their price target on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird increased their target price on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Raymond James lowered Tractor Supply from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $230.00 to $250.00 in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of “Hold” and a consensus price target of $248.17.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $273.90 on Friday. The company has a market cap of $29.56 billion, a P/E ratio of 26.67, a P/E/G ratio of 3.97 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $274.66. The business has a fifty day simple moving average of $252.44 and a 200-day simple moving average of $226.74.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Insider Activity

In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s 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 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the firm’s 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the sale, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The disclosure for this sale can be found here. In the last three months, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds have recently added to or reduced their stakes in the stock. Citizens National Bank Trust Department lifted its stake in Tractor Supply by 0.5% in the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock valued at $2,086,000 after buying an additional 45 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Tractor Supply by 10.9% in the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock valued at $120,000 after buying an additional 45 shares during the last quarter. Wedmont Private Capital lifted its stake in Tractor Supply by 3.6% in the first quarter. Wedmont Private Capital now owns 1,309 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 45 shares during the last quarter. Wahed Invest LLC lifted its stake in Tractor Supply by 2.8% in the fourth quarter. Wahed Invest LLC now owns 1,783 shares of the specialty retailer’s stock valued at $383,000 after buying an additional 49 shares during the last quarter. Finally, Allen Capital Group LLC increased its holdings in shares of Tractor Supply by 0.6% during the third quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,805,000 after purchasing an additional 53 shares during the period. 98.72% of the stock is currently owned by 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.