Analysts Set Tractor Supply (NASDAQ:TSCO) PT at $58.02

Tractor Supply (NASDAQ:TSCO) has received an average rating of “Moderate Buy” from the twenty brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $58.02.

Several research firms have commented on TSCO. Stephens began coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price for the company. Mizuho lowered their target price on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Raymond James lowered their target price on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 28th.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 3,850 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total value of $222,106.50. Following the completion of the sale, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $1,833,792.03. This represents a 10.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Tractor Supply

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Tractor Supply by 4.1% during the first quarter. Vanguard Group Inc. now owns 66,631,422 shares of the specialty retailer’s stock valued at $3,671,391,000 after purchasing an additional 2,597,450 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tractor Supply by 16.0% during the first quarter. Wellington Management Group LLP now owns 27,604,769 shares of the specialty retailer’s stock valued at $1,521,023,000 after purchasing an additional 3,815,520 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after purchasing an additional 17,834,643 shares during the last quarter. Capital World Investors lifted its stake in Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors lifted its stake in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after purchasing an additional 11,880,010 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Trading Up 1.5%

Shares of TSCO opened at $52.17 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.20. The firm has a 50 day simple moving average of $51.66 and a 200-day simple moving average of $54.08. Tractor Supply has a 1-year low of $46.85 and a 1-year high of $61.53. The stock has a market cap of $27.66 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 2.95 and a beta of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the business earned $1.83 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.76%. Tractor Supply’s payout ratio is 45.77%.

Tractor Supply announced that its Board of Directors has authorized a share repurchase program on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.