Tractor Supply’s (TSCO) Buy Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Tractor Supply (NASDAQ:TSCO) in a report released on Thursday,Benzinga reports. They currently have a $60.00 price objective on the specialty retailer’s stock.

A number of other brokerages also recently weighed in on TSCO. Truist Financial set a $55.00 price target on shares of Tractor Supply and gave the company a “hold” rating in a report on Friday, January 16th. Gordon Haskett downgraded shares of Tractor Supply from an “accumulate” rating to a “hold” rating and dropped their price objective for the stock from $57.00 to $50.00 in a report on Thursday, January 8th. Bank of America initiated coverage on shares of Tractor Supply in a research report on Tuesday, April 7th. They set a “neutral” rating and a $47.00 price objective for the company. Stephens set a $53.00 target price on Tractor Supply and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Finally, Guggenheim restated a “buy” rating and set a $65.00 price target on shares of Tractor Supply in a research note on Thursday, January 22nd. Fourteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.78.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $45.01 on Thursday. The company has a quick ratio of 0.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $48.69 and its two-hundred day moving average is $51.75. The company has a market cap of $23.68 billion, a P/E ratio of 21.74, a P/E/G ratio of 2.38 and a beta of 0.75. Tractor Supply has a 12 month low of $43.23 and a 12 month high of $63.99.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. On average, equities analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Tractor Supply’s payout ratio is presently 46.38%.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 84,670 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total value of $4,501,057.20. Following the sale, the chief executive officer directly owned 606,842 shares in the company, valued at approximately $32,259,720.72. This represents a 12.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kurt D. Barton sold 1,929 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $53.94, for a total value of $104,050.26. Following the completion of the transaction, the chief financial officer directly owned 44,736 shares of the company’s stock, valued at approximately $2,413,059.84. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 222,348 shares of company stock valued at $11,959,621. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Tractor Supply

Several institutional investors have recently bought and sold shares of the stock. JPL Wealth Management LLC acquired a new position in Tractor Supply during the third quarter worth $28,000. Garner Asset Management Corp acquired a new stake in shares of Tractor Supply in the 4th quarter valued at $25,000. Reflection Asset Management bought a new stake in shares of Tractor Supply in the 4th quarter worth about $26,000. Core Wealth Advisors LLC bought a new stake in shares of Tractor Supply in the 4th quarter worth about $27,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of Tractor Supply during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.