Tractor Supply (NASDAQ:TSCO) Price Target Raised to $234.00 at Barclays

Tractor Supply (NASDAQ:TSCO) had its price target boosted by research analysts at Barclays from $192.00 to $234.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price objective points to a potential downside of 5.40% from the stock’s previous close.

Several other brokerages have also recently issued reports on TSCO. Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $226.00 to $240.00 in a research note on Tuesday, January 23rd. UBS Group lifted their price objective on Tractor Supply from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Wedbush upped their target price on shares of Tractor Supply from $200.00 to $235.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. The Goldman Sachs Group lifted their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Truist Financial raised their price objective on shares of Tractor Supply from $256.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Tractor Supply presently has a consensus rating of “Hold” and an average price target of $240.57.

Tractor Supply Price Performance

TSCO opened at $247.35 on Wednesday. The stock’s 50-day moving average price is $249.54 and its 200 day moving average price is $224.28. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $268.02. The firm has a market cap of $26.70 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 3.68 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.43 earnings per share. As a group, sell-side analysts expect that Tractor Supply will post 10.19 earnings per share for the current year.

Insider Activity

In related news, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The stock was 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 of the company’s stock, valued at $5,314,246. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the transaction, 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 sold 90,090 shares of company stock valued at $21,201,877. Insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

Several hedge funds have recently made changes to their positions in the company. Synovus Financial Corp boosted its holdings in Tractor Supply by 1.9% in the 1st quarter. Synovus Financial Corp now owns 5,006 shares of the specialty retailer’s stock valued at $1,166,000 after purchasing an additional 93 shares in the last quarter. Cibc World Market Inc. grew its holdings in Tractor Supply by 10.4% during the first quarter. Cibc World Market Inc. now owns 12,622 shares of the specialty retailer’s stock worth $2,946,000 after acquiring an additional 1,186 shares during the period. Sei Investments Co. raised its position in Tractor Supply by 12.1% in the first quarter. Sei Investments Co. now owns 75,163 shares of the specialty retailer’s stock worth $17,565,000 after acquiring an additional 8,129 shares in the last quarter. Prudential PLC acquired a new stake in Tractor Supply in the first quarter valued at $611,000. Finally, Cetera Investment Advisers boosted its position in shares of Tractor Supply by 15.8% during the 1st quarter. Cetera Investment Advisers now owns 6,238 shares of the specialty retailer’s stock worth $1,456,000 after purchasing an additional 849 shares in the last quarter. Institutional investors and hedge funds 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.