Evercore ISI Increases Tractor Supply (NASDAQ:TSCO) Price Target to $280.00

Tractor Supply (NASDAQ:TSCO) had its price objective lifted by Evercore ISI from $275.00 to $280.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

TSCO has been the subject of several other research reports. The Goldman Sachs Group increased their price objective on Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Barclays lifted their price objective on Tractor Supply from $234.00 to $240.00 and gave the company an equal weight rating in a research note on Friday. Stephens downgraded Tractor Supply from an overweight rating to an equal weight rating and raised their target price for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Robert W. Baird lifted their price objective on Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a report on Friday. Finally, Raymond James downgraded Tractor Supply from a strong-buy rating to an outperform rating and boosted their price target for the company from $230.00 to $250.00 in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $250.00.

Tractor Supply Price Performance

TSCO stock opened at $277.88 on Friday. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $278.16. The business has a 50 day moving average price of $253.27 and a 200 day moving average price of $227.47. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.47 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share 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 company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Tractor Supply will post 10.26 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

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

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Robert D. Mills sold 48,334 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the company’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 transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at $22,173,072.56. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 over the last three months. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Citizens National Bank Trust Department raised its position in Tractor Supply by 0.5% during 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 period. Lindbrook Capital LLC raised its position in Tractor Supply by 10.9% during 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 period. Wedmont Private Capital raised its position in Tractor Supply by 3.6% during 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 period. Wahed Invest LLC raised its position in Tractor Supply by 2.8% during 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 period. Finally, Allen Capital Group LLC raised its position in 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 buying an additional 53 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

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.