Truist Financial Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $317.00

Tractor Supply (NASDAQ:TSCO) had its price target lowered by Truist Financial from $325.00 to $317.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s target price points to a potential upside of 14.29% from the stock’s current price.

TSCO has been the subject of a number of other reports. Evercore ISI cut shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective for the company. in a report on Thursday, October 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Tractor Supply in a report on Thursday. UBS Group raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Benchmark reissued a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a report on Monday. Finally, Piper Sandler raised their price target on shares of Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $272.14.

Tractor Supply Stock Up 1.1 %

TSCO stock traded up $3.07 during trading on Friday, reaching $277.36. The stock had a trading volume of 103,742 shares, compared to its average volume of 1,049,210. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $307.64. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $29.92 billion, a P/E ratio of 26.57, a PEG ratio of 3.66 and a beta of 0.80. The firm has a fifty day moving average price of $282.05 and a 200 day moving average price of $272.89.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, October 24th. The specialty retailer reported $2.24 EPS for the quarter, topping the consensus estimate of $2.23 by $0.01. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. On average, equities analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current year.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at $1,356,349.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in Tractor Supply during the 1st quarter worth approximately $26,000. LRI Investments LLC acquired a new position in Tractor Supply during the 1st quarter worth approximately $28,000. J.Safra Asset Management Corp increased its position in Tractor Supply by 700.0% during the 1st quarter. J.Safra Asset Management Corp now owns 112 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. Whittier Trust Co. increased its position in Tractor Supply by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 42 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Tractor Supply in the 2nd quarter valued at approximately $33,000. Institutional investors own 98.72% of the company’s stock.

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.