Telsey Advisory Group Reiterates Outperform Rating for Tractor Supply (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO)‘s stock had its “outperform” rating restated by stock analysts at Telsey Advisory Group in a research report issued on Friday,Benzinga reports. They presently have a $60.00 target price on the specialty retailer’s stock. Telsey Advisory Group’s price objective points to a potential upside of 5.87% from the stock’s current price.

A number of other research firms also recently issued reports on TSCO. Raymond James Financial decreased their price target on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Wall Street Zen cut shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Friday, June 6th. Wells Fargo & Company boosted their price objective on shares of Tractor Supply from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Piper Sandler lifted their price objective on shares of Tractor Supply from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.95.

Tractor Supply Trading Down 0.3%

Shares of TSCO traded down $0.16 during trading hours on Friday, reaching $56.67. 202,686 shares of the company traded hands, compared to its average volume of 5,145,899. The company’s fifty day moving average price is $52.50 and its two-hundred day moving average price is $53.16. The company has a market capitalization of $30.05 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 3.02 and a beta of 0.75. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. Tractor Supply has a 12 month low of $46.85 and a 12 month high of $61.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.83 earnings per share. Equities research analysts predict that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Tractor Supply

In other news, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the transaction, the executive vice president directly owned 74,605 shares of the company’s stock, valued at $4,177,880. The trade was a 32.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the transaction, the senior vice president directly owned 29,722 shares in the company, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,445 shares of company stock worth $5,669,742 in the last 90 days. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bennett Selby Investments LP lifted its stake in shares of Tractor Supply by 1.3% in the 2nd quarter. Bennett Selby Investments LP now owns 14,932 shares of the specialty retailer’s stock valued at $788,000 after purchasing an additional 191 shares in the last quarter. Hancock Whitney Corp lifted its position in Tractor Supply by 2.0% during the 1st quarter. Hancock Whitney Corp now owns 9,849 shares of the specialty retailer’s stock worth $543,000 after acquiring an additional 194 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in Tractor Supply by 0.3% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 66,483 shares of the specialty retailer’s stock worth $3,663,000 after acquiring an additional 208 shares in the last quarter. Wedmont Private Capital lifted its position in Tractor Supply by 2.5% during the 1st quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer’s stock worth $450,000 after acquiring an additional 212 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in Tractor Supply by 30.1% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 213 shares in the last quarter. 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.