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

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by equities researchers at Evercore ISI from $275.00 to $280.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Evercore ISI’s price target suggests a potential upside of 2.38% from the company’s previous close.

Several other brokerages have also issued reports on TSCO. Benchmark restated a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Truist Financial boosted their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a report on Friday. Raymond James downgraded shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $230.00 to $250.00 in a report on Friday, February 2nd. Finally, Barclays boosted their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $245.70.

Tractor Supply Trading Up 3.1 %

Tractor Supply stock traded up $8.24 during trading hours on Friday, reaching $273.50. The stock had a trading volume of 903,038 shares, compared to its average volume of 1,163,194. The stock has a market cap of $29.52 billion, a PE ratio of 27.13, a PEG ratio of 3.88 and a beta of 0.84. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $274.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. The company has a fifty day simple moving average of $251.70 and a 200-day simple moving average of $226.10.

Tractor Supply (NASDAQ:TSCO) last issued 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 net margin of 7.61% and a return on equity of 53.60%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the company posted $1.65 EPS. Tractor Supply’s revenue was up 2.8% on a year-over-year basis. Analysts forecast that Tractor Supply will post 10.2 EPS for the current fiscal year.

Insider Activity

In other news, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value 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 approximately $5,147,842.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction dated 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 directly owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 in the last ninety days. Insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

Institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in Tractor Supply in the 3rd quarter valued at $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply during the 1st quarter worth $26,000. Private Wealth Management Group LLC acquired a new position in shares of Tractor Supply during the 4th quarter worth $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of Tractor Supply during the 4th quarter worth $28,000. Finally, Rise Advisors LLC grew its stake in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.