JPMorgan Chase & Co. Increases Tractor Supply (NASDAQ:TSCO) Price Target to $263.00

Tractor Supply (NASDAQ:TSCO) had its price target raised by equities researchers at JPMorgan Chase & Co. from $241.00 to $263.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 2.67% from the company’s current price.

Other equities analysts have also issued reports about the company. Guggenheim boosted their price target on Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Benchmark reissued a “buy” rating and set a $256.00 target price on shares of Tractor Supply in a research report on Monday, April 22nd. Evercore ISI upped their target price on shares of Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Piper Sandler lifted their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. 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 report 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $253.54.

Tractor Supply Price Performance

Tractor Supply stock opened at $270.21 on Friday. The firm has a fifty day moving average of $255.80 and a 200-day moving average of $229.15. Tractor Supply has a 52-week low of $185.00 and a 52-week 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 firm has a market capitalization of $29.16 billion, a P/E ratio of 26.31, a PEG ratio of 3.41 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 EPS. As a group, analysts predict that Tractor Supply will post 10.3 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply 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 transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Robert D. Mills sold 48,334 shares of the company’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 completion of the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction on Thursday, February 8th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock valued at $21,201,877. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Tractor Supply by 9,370.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after purchasing an additional 2,792,352 shares during the period. Norges Bank bought a new stake in shares of Tractor Supply during the fourth quarter valued at approximately $260,560,000. Invesco Ltd. boosted its position in shares of Tractor Supply by 76.7% during the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after buying an additional 878,874 shares during the period. Capital World Investors boosted its position in shares of Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after buying an additional 531,170 shares during the period. Finally, Capital International Investors grew its holdings in Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after buying an additional 439,954 shares in the last quarter. 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.