Tractor Supply (NASDAQ:TSCO) Given New $55.00 Price Target at Guggenheim

Tractor Supply (NASDAQ:TSCO - Get Free Report) had its price target cut by investment analysts at Guggenheim from $60.00 to $55.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. Guggenheim's price target indicates a potential upside of 12.24% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Mizuho reduced their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Robert W. Baird cut their price objective on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Bank of America lifted their target price on shares of Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $58.47.

Tractor Supply Trading Down 1.8 %

TSCO stock traded down $0.92 during mid-day trading on Friday, reaching $49.00. 6,417,434 shares of the stock traded hands, compared to its average volume of 5,119,981. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. Tractor Supply has a one year low of $46.85 and a one year high of $61.53. The stock has a market capitalization of $26.05 billion, a PE ratio of 24.02, a PEG ratio of 2.95 and a beta of 0.88. The business has a 50-day moving average price of $52.86 and a two-hundred day moving average price of $54.65.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.40% and a return on equity of 49.01%. The firm had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Tractor Supply announced that its board has authorized a share 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 buy up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 3,850 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was 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 owns 31,787 shares of the company's stock, valued at approximately $1,833,792.03. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of Tractor Supply stock in a transaction that occurred on 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 owns 33,645 shares of the company's stock, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock valued at $7,538,068 over the last ninety days. Insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Tractor Supply

A number of large investors have recently bought and sold shares of TSCO. Smithfield Trust Co lifted its stake in shares of 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 purchasing an additional 352 shares during the period. Coppell Advisory Solutions LLC lifted its stake in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 425 shares in the last quarter. PrairieView Partners LLC lifted its position in Tractor Supply by 400.0% during the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock valued at $26,000 after buying an additional 400 shares in the last quarter. Future Financial Wealth Managment LLC boosted its position in Tractor Supply by 400.0% during the 4th 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 grew its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds 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.