Tractor Supply (NASDAQ:TSCO) Now Covered by Bank of America

Equities research analysts at Bank of America initiated coverage on shares of Tractor Supply (NASDAQ:TSCO) in a research note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $47.00 price target on the specialty retailer’s stock. Bank of America‘s target price points to a potential upside of 7.27% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Evercore reiterated an “outperform” rating and set a $60.00 target price on shares of Tractor Supply in a research report on Friday, January 30th. The Goldman Sachs Group set a $59.00 target price on Tractor Supply and gave the company a “buy” rating in a research report on Friday, January 30th. UBS Group set a $55.00 target price on Tractor Supply in a research report on Friday, January 30th. Mizuho lowered their target price on Tractor Supply from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Finally, Jefferies Financial Group lowered 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 30th. Fourteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $58.78.

Tractor Supply Price Performance

TSCO traded down $1.57 during trading on Tuesday, hitting $43.82. 588,974 shares of the company traded hands, compared to its average volume of 6,870,456. The company has a market cap of $23.05 billion, a PE ratio of 21.11, a P/E/G ratio of 2.19 and a beta of 0.75. The stock’s 50-day simple moving average is $50.30 and its two-hundred day simple moving average is $52.51. Tractor Supply has a 1 year low of $43.35 and a 1 year high of $63.99. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert D. Mills sold 62,950 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total value of $3,406,854.00. Following the completion of the sale, the executive vice president directly owned 122,834 shares in the company, valued at $6,647,776.08. This trade represents a 33.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the sale, the chief executive officer owned 606,842 shares of the company’s stock, valued at approximately $32,259,720.72. This represents a 12.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 222,348 shares of company stock valued at $11,959,621 over the last 90 days. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Tractor Supply

Hedge funds and other institutional investors have recently bought and sold shares of the business. Garner Asset Management Corp purchased a new stake in Tractor Supply in the fourth quarter worth $25,000. Delos Wealth Advisors LLC purchased a new stake in Tractor Supply in the second quarter worth $26,000. Reflection Asset Management purchased a new stake in Tractor Supply in the fourth quarter worth $26,000. Aventura Private Wealth LLC purchased a new stake in Tractor Supply in the fourth quarter worth $27,000. Finally, Core Wealth Advisors LLC purchased a new stake in Tractor Supply in the fourth quarter worth $27,000. Hedge funds and other 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.