Piper Sandler Increases Tractor Supply (NASDAQ:TSCO) Price Target to $300.00

Tractor Supply (NASDAQ:TSCO) had its target price lifted by research analysts at Piper Sandler from $265.00 to $300.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty retailer’s stock. Piper Sandler’s price target would suggest a potential upside of 9.86% from the stock’s previous close.

A number of other brokerages have also weighed in on TSCO. Truist Financial lifted their target price 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. Evercore ISI boosted their price objective on shares of Tractor Supply from $275.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Wedbush reissued a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday, April 23rd. Telsey Advisory Group reissued an “outperform” rating and set a $275.00 price objective on shares of Tractor Supply in a research note on Thursday, April 25th. Finally, Robert W. Baird boosted their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Two equities 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. Based on data from MarketBeat, Tractor Supply currently has an average rating of “Hold” and a consensus price target of $250.00.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $273.08 on Monday. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $279.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. The stock has a market capitalization of $29.47 billion, a PE ratio of 26.59, a P/E/G ratio of 3.47 and a beta of 0.84. The company’s 50 day simple moving average is $253.27 and its two-hundred day simple moving average is $227.47.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. Analysts predict that Tractor Supply will post 10.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at $2,418,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. 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 90 days. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Tractor Supply

Hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new position in Tractor Supply in the first quarter valued at approximately $26,000. Rise Advisors LLC increased its holdings in shares of Tractor Supply by 157.1% in the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 66 shares during the period. Private Wealth Management Group LLC purchased a new stake in Tractor Supply in the 4th quarter valued at $27,000. OFI Invest Asset Management acquired a new stake in Tractor Supply during the 3rd quarter worth $25,000. Finally, Pinnacle Bancorp Inc. purchased a new position in Tractor Supply during the 4th quarter worth $28,000. 98.72% of the stock is currently owned by hedge funds and other 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.