Wedbush Equities Analysts Raise Earnings Estimates for Tractor Supply (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) – Investment analysts at Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for shares of Tractor Supply in a report issued on Friday, April 26th. Wedbush analyst S. Basham now expects that the specialty retailer will earn $4.00 per share for the quarter, up from their prior forecast of $3.96. Wedbush currently has a “Neutral” rating and a $235.00 target price on the stock. The consensus estimate for Tractor Supply’s current full-year earnings is $10.26 per share. Wedbush also issued estimates for Tractor Supply’s Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $10.42 EPS and FY2025 earnings at $11.59 EPS.

A number of other research firms also recently weighed in on TSCO. Raymond James raised their price target on Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Stephens cut shares of Tractor Supply from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Wells Fargo & Company increased their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Truist Financial lifted their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, UBS Group upped their price objective on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $250.00.

Tractor Supply Trading Down 1.7 %

Tractor Supply stock opened at $273.08 on Monday. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $279.38. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. The stock has a market cap of $29.47 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.47 and a beta of 0.84. The company’s fifty day simple moving average is $253.27 and its 200-day simple moving average is $227.47.

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

Tractor Supply Increases Dividend

The company also recently disclosed 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 was Friday, February 23rd. This is a boost 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 1.61%. Tractor Supply’s payout ratio is currently 42.84%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the sale, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in shares of Tractor Supply during the third quarter valued at $25,000. Future Financial Wealth Managment LLC bought a new position in shares of Tractor Supply in the 1st quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Tractor Supply during the fourth quarter worth approximately $28,000. Finally, Rise Advisors LLC lifted its holdings in Tractor Supply by 157.1% in the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 66 shares during the period. 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.