Evercore ISI Increases Tractor Supply (NASDAQ:TSCO) Price Target to $280.00

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by Evercore ISI from $275.00 to $280.00 in a report issued on Friday, Benzinga reports. Evercore ISI currently has an outperform rating on the specialty retailer’s stock.

A number of other equities analysts have also recently commented on the company. Guggenheim lifted their price target on Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a report on Friday, February 2nd. Morgan Stanley restated an underweight rating and set a $195.00 price objective on shares of Tractor Supply in a report on Tuesday, January 16th. Wedbush restated a neutral rating and set a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Robert W. Baird boosted their price objective on Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a report on Friday. Finally, Barclays boosted their price objective on Tractor Supply from $234.00 to $240.00 and gave the stock an equal weight rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $250.00.

Tractor Supply Trading Up 1.5 %

Tractor Supply stock opened at $277.88 on Friday. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $278.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The stock has a market capitalization of $29.99 billion, a P/E ratio of 27.06, a PEG ratio of 3.47 and a beta of 0.84. The stock has a 50-day simple moving average of $253.27 and a 200 day simple moving average of $227.47.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the company posted $1.65 earnings per share. Tractor Supply’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that Tractor Supply will post 10.26 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $1.10 per share. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s payout ratio is currently 42.84%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock worth $21,201,877 over the last three months. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TSCO. OFI Invest Asset Management acquired a new position in shares of Tractor Supply during the third quarter worth $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply during the first quarter worth $26,000. Private Wealth Management Group LLC acquired a new position in shares of Tractor Supply during the fourth quarter worth $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of Tractor Supply during the fourth quarter worth $28,000. Finally, Rise Advisors LLC increased its holdings in shares of Tractor Supply by 157.1% during the first quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock worth $28,000 after buying an additional 66 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.