Tractor Supply (NASDAQ:TSCO) PT Raised to $138.00

Tractor Supply (NASDAQ:TSCO) had its price target boosted by analysts at Royal Bank of Canada from $116.00 to $138.00 in a report issued on Wednesday, The Fly reports. Royal Bank of Canada’s price objective suggests a potential upside of 15.99% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Wedbush boosted their price objective on Tractor Supply from $95.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday. Oppenheimer initiated coverage on Tractor Supply in a research report on Wednesday. They set a “buy” rating and a $135.00 price objective for the company. Jefferies Financial Group initiated coverage on Tractor Supply in a report on Friday, March 20th. They issued a “hold” rating and a $81.00 price target for the company. BidaskClub raised Tractor Supply from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $95.00 price target on shares of Tractor Supply in a report on Sunday, February 2nd. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Tractor Supply presently has a consensus rating of “Buy” and an average target price of $117.00.

Shares of NASDAQ:TSCO opened at $118.98 on Wednesday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.66 and a quick ratio of 0.38. The firm has a market capitalization of $13.85 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The firm’s 50-day moving average is $101.68 and its two-hundred day moving average is $94.16. Tractor Supply has a 1 year low of $63.89 and a 1 year high of $121.75.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 23rd. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.01. Tractor Supply had a net margin of 6.71% and a return on equity of 38.38%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts expect that Tractor Supply will post 4.73 EPS for the current fiscal year.

In other Tractor Supply news, CMO Jonathan S. Estep sold 5,237 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $102.00, for a total value of $534,174.00. Following the completion of the transaction, the chief marketing officer now owns 16,832 shares in the company, valued at $1,716,864. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 7,921 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $102.00, for a total value of $807,942.00. Following the completion of the transaction, the chief financial officer now owns 50,852 shares of the company’s stock, valued at approximately $5,186,904. The disclosure for this sale can be found here. Insiders have sold 265,432 shares of company stock valued at $27,936,293 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Boston Partners purchased a new position in Tractor Supply in the fourth quarter worth $8,927,000. AQR Capital Management LLC raised its position in Tractor Supply by 24.8% in the fourth quarter. AQR Capital Management LLC now owns 1,526,255 shares of the specialty retailer’s stock worth $142,613,000 after acquiring an additional 302,843 shares in the last quarter. 1832 Asset Management L.P. raised its position in Tractor Supply by 60.8% in the fourth quarter. 1832 Asset Management L.P. now owns 49,700 shares of the specialty retailer’s stock worth $4,643,000 after acquiring an additional 18,800 shares in the last quarter. Franklin Resources Inc. raised its position in Tractor Supply by 26.8% in the fourth quarter. Franklin Resources Inc. now owns 702,888 shares of the specialty retailer’s stock worth $65,678,000 after acquiring an additional 148,387 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Tractor Supply by 3.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 486,189 shares of the specialty retailer’s stock worth $41,107,000 after acquiring an additional 14,764 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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