Truist Securities Initiates Coverage on Tractor Supply (NASDAQ:TSCO)

Analysts at Truist Securities assumed coverage on shares of Tractor Supply (NASDAQ:TSCO) in a report issued on Thursday, Analyst Ratings Network reports. The firm set a “buy” rating and a $270.00 price target on the specialty retailer’s stock. Truist Securities’ price target indicates a potential upside of 21.64% from the stock’s previous close. Truist Securities also issued estimates for Tractor Supply’s Q4 2021 earnings at $1.82 EPS, FY2021 earnings at $8.50 EPS, Q1 2022 earnings at $1.25 EPS, Q2 2022 earnings at $3.28 EPS, Q3 2022 earnings at $2.00 EPS, Q4 2022 earnings at $2.28 EPS, FY2022 earnings at $8.80 EPS, Q1 2023 earnings at $1.25 EPS, Q2 2023 earnings at $3.28 EPS, Q3 2023 earnings at $2.00 EPS, Q4 2023 earnings at $2.28 EPS and FY2023 earnings at $9.55 EPS.

TSCO has been the subject of several other reports. Morgan Stanley increased their price objective on Tractor Supply from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, October 22nd. Stephens raised their target price on Tractor Supply from $216.00 to $241.00 and gave the company an “overweight” rating in a research note on Friday, October 22nd. Zacks Investment Research lowered Tractor Supply from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research note on Tuesday, January 4th. Raymond James raised their target price on Tractor Supply from $215.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Friday, October 22nd. Finally, Truist Financial assumed coverage on Tractor Supply in a research report on Thursday. They set a “buy” rating and a $270.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tractor Supply presently has an average rating of “Buy” and a consensus target price of $226.28.

TSCO opened at $221.97 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.62. Tractor Supply has a 12-month low of $139.11 and a 12-month high of $239.86. The firm’s fifty day moving average price is $228.56 and its 200 day moving average price is $207.77. The stock has a market capitalization of $25.26 billion, a PE ratio of 28.31, a P/E/G ratio of 2.62 and a beta of 0.91.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Wednesday, October 20th. The specialty retailer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.29. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.86 billion. Tractor Supply had a net margin of 7.42% and a return on equity of 49.84%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 earnings per share. On average, equities research analysts forecast that Tractor Supply will post 8.51 earnings per share for the current fiscal year.

In related news, CFO Kurt D. Barton sold 4,822 shares of the firm’s stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $225.00, for a total value of $1,084,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 11,844 shares of Tractor Supply stock in a transaction on Friday, October 29th. The shares were sold at an average price of $215.00, for a total value of $2,546,460.00. The disclosure for this sale can be found here. Insiders have sold 17,516 shares of company stock valued at $3,809,919 over the last ninety days. Insiders own 0.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC bought a new position in shares of Tractor Supply during the 3rd quarter valued at about $25,000. Bell Investment Advisors Inc acquired a new position in shares of Tractor Supply during the 3rd quarter worth approximately $26,000. Gradient Investments LLC acquired a new position in Tractor Supply in the 4th quarter valued at $28,000. Field & Main Bank lifted its position in shares of Tractor Supply by 93.8% during the 3rd quarter. Field & Main Bank now owns 155 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 75 shares during the period. Finally, JFS Wealth Advisors LLC bought a new stake in shares of Tractor Supply during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.

Tractor Supply Company Profile

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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