Tractor Supply (NASDAQ:TSCO) Earns Outperform Rating from Telsey Advisory Group

Tractor Supply (NASDAQ:TSCO)‘s stock had its “outperform” rating reissued by analysts at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price objective on the specialty retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 26.95% from the company’s current price.

Several other equities analysts have also commented on TSCO. Jefferies Financial Group raised Tractor Supply from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Evercore ISI raised Tractor Supply from a “hold” rating to an “outperform” rating and upped their price target for the company from $60.00 to $65.00 in a report on Wednesday, November 5th. Citigroup reiterated a “buy” rating and set a $61.00 price objective (down previously from $66.00) on shares of Tractor Supply in a research report on Friday, January 16th. Truist Financial set a $55.00 target price on shares of Tractor Supply and gave the company a “hold” rating in a report on Friday, January 16th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Tractor Supply in a research note on Thursday, October 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.81.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $55.14 on Thursday. The company has a fifty day moving average of $52.38 and a 200-day moving average of $55.76. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.14 and a current ratio of 1.30. Tractor Supply has a 52-week low of $46.85 and a 52-week high of $63.99. The stock has a market capitalization of $29.14 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.61 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.04). Tractor Supply had a return on equity of 46.18% and a net margin of 7.18%.The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. Equities research analysts expect that Tractor Supply will post 2.17 EPS for the current year.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Tractor Supply by 123.4% during the second quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock valued at $795,735,000 after acquiring an additional 8,329,462 shares in the last quarter. Norges Bank bought a new position in shares of Tractor Supply in the 2nd quarter worth $274,959,000. Victory Capital Management Inc. raised its holdings in Tractor Supply by 719.1% in the third quarter. Victory Capital Management Inc. now owns 4,508,661 shares of the specialty retailer’s stock worth $256,408,000 after purchasing an additional 3,958,205 shares in the last quarter. Select Equity Group L.P. lifted its position in Tractor Supply by 41.9% during the second quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock valued at $670,887,000 after acquiring an additional 3,753,414 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Tractor Supply by 505.1% during the 3rd quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer’s stock valued at $246,222,000 after purchasing an additional 3,614,097 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Tractor Supply Company Profile

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.