Tractor Supply (NASDAQ:TSCO) Now Covered by Truist Financial

Analysts at Truist Financial began coverage on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $270.00 price target on the specialty retailer’s stock. Truist Financial’s price objective indicates a potential upside of 21.64% from the stock’s current price.

Several other research firms have also recently weighed in on TSCO. Bank of America cut shares of Tractor Supply from a “buy” rating to a “neutral” rating and set a $217.00 price target on the stock. in a report on Monday, October 4th. Morgan Stanley boosted their target price on shares of Tractor Supply from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, October 22nd. Robert W. Baird boosted their target price on shares of Tractor Supply from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, October 22nd. Credit Suisse Group boosted their target price on shares of Tractor Supply from $190.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, October 22nd. Finally, Telsey Advisory Group boosted their target price on shares of Tractor Supply from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, October 22nd. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tractor Supply has a consensus rating of “Buy” and an average price target of $226.28.

Tractor Supply stock opened at $221.97 on Thursday. Tractor Supply has a fifty-two week low of $139.11 and a fifty-two week high of $239.86. The stock has a market cap of $25.26 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 2.62 and a beta of 0.91. The firm’s 50-day simple moving average is $228.56 and its 200 day simple moving average is $207.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.69.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Wednesday, October 20th. The specialty retailer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.29. Tractor Supply had a net margin of 7.42% and a return on equity of 49.84%. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, analysts predict that Tractor Supply will post 8.51 EPS for the current fiscal year.

In other news, CFO Kurt D. Barton sold 4,822 shares of the firm’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $225.00, for a total value of $1,084,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Mills sold 11,844 shares of the firm’s stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $215.00, for a total transaction of $2,546,460.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,516 shares of company stock valued at $3,809,919 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Thomasville National Bank increased its stake in Tractor Supply by 2.7% during the 3rd quarter. Thomasville National Bank now owns 2,003 shares of the specialty retailer’s stock valued at $406,000 after purchasing an additional 53 shares in the last quarter. Liberty Capital Management Inc. increased its stake in Tractor Supply by 1.1% during the 3rd quarter. Liberty Capital Management Inc. now owns 4,905 shares of the specialty retailer’s stock valued at $994,000 after purchasing an additional 55 shares in the last quarter. Knowledge Leaders Capital LLC increased its stake in Tractor Supply by 0.6% during the 3rd quarter. Knowledge Leaders Capital LLC now owns 10,462 shares of the specialty retailer’s stock valued at $2,120,000 after purchasing an additional 58 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Tractor Supply by 5.1% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,242 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 60 shares in the last quarter. Finally, RE Advisers Corp increased its stake in Tractor Supply by 55.9% during the 3rd quarter. RE Advisers Corp now owns 184 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 84.65% of the company’s stock.

About Tractor Supply

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

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Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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