Tractor Supply (NASDAQ:TSCO) Given Average Recommendation of “Moderate Buy” by Brokerages

Tractor Supply (NASDAQ:TSCO) has received an average recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $256.58.

Several research firms recently weighed in on TSCO. Truist Financial lifted their price target on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Benchmark restated a “buy” rating and set a $280.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Mizuho reaffirmed a “neutral” rating and set a $250.00 target price (up from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Wells Fargo & Company boosted their price objective on Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, TD Cowen boosted their price objective on Tractor Supply from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, April 26th.

Tractor Supply Trading Up 0.3 %

Shares of TSCO opened at $263.00 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $290.38. The firm has a market capitalization of $28.35 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.27 and a beta of 0.81. The stock’s fifty day simple moving average is $268.10 and its 200-day simple moving average is $260.52.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.83 earnings per share. As a group, research analysts predict that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, August 26th. Tractor Supply’s payout ratio is currently 42.84%.

Insider Buying and Selling at Tractor Supply

In related news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several hedge funds have recently added to or reduced their stakes in the business. Scientech Research LLC lifted its position in Tractor Supply by 227.3% during the second quarter. Scientech Research LLC now owns 6,660 shares of the specialty retailer’s stock valued at $1,798,000 after buying an additional 4,625 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Tractor Supply during the second quarter valued at approximately $1,684,000. MBB Public Markets I LLC bought a new stake in shares of Tractor Supply during the second quarter valued at approximately $2,043,000. DoubleLine ETF Adviser LP acquired a new position in shares of Tractor Supply during the second quarter valued at approximately $799,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Tractor Supply during the second quarter valued at approximately $38,070,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.