Brokerages Set Tractor Supply (NASDAQ:TSCO) Price Target at $59.07

Tractor Supply (NASDAQ:TSCO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-two ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $59.07.

TSCO has been the topic of several recent research reports. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 31st. Bank of America upped their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Tractor Supply in a research report on Thursday, April 17th. Mizuho upped their target price on Tractor Supply from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, Truist Financial decreased their target price on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 31st.

Tractor Supply Stock Performance

TSCO traded up $1.29 during trading on Friday, reaching $51.57. The company's stock had a trading volume of 801,061 shares, compared to its average volume of 5,261,393. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company's fifty day moving average price is $53.48 and its 200-day moving average price is $54.97. Tractor Supply has a 52-week low of $46.97 and a 52-week high of $61.53. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, equities analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply declared that its board has initiated a stock repurchase program on Thursday, February 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.92 per share. This is an increase from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. This represents a $3.68 annualized dividend and a dividend yield of 7.14%. Tractor Supply's payout ratio is presently 45.10%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the sale, the executive vice president now directly owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. This represents a 42.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 3,850 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.69, for a total transaction of $222,106.50. Following the transaction, the senior vice president now owns 31,787 shares in the company, valued at $1,833,792.03. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,993 shares of company stock worth $7,538,068. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors have recently bought and sold shares of the company. Smithfield Trust Co boosted its position in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in shares of Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares during the period. PrairieView Partners LLC increased its stake in shares of Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares during the period. Future Financial Wealth Managment LLC increased its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the period. Finally, Archer Investment Corp increased its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares during the period. 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.