Truist Securities Begins Coverage on Tractor Supply (NASDAQ:TSCO)

Truist Securities assumed coverage on shares of Tractor Supply (NASDAQ:TSCO) in a research report released on Thursday, Price Targets.com reports. The firm issued a buy rating and a $270.00 price objective on the specialty retailer’s stock. Truist Securities also issued estimates for Tractor Supply’s Q4 2021 earnings at $1.82 EPS, FY2021 earnings at $8.50 EPS, Q1 2022 earnings at $1.25 EPS, Q2 2022 earnings at $3.28 EPS, Q3 2022 earnings at $2.00 EPS, Q4 2022 earnings at $2.28 EPS, FY2022 earnings at $8.80 EPS, Q1 2023 earnings at $1.25 EPS, Q2 2023 earnings at $3.28 EPS, Q3 2023 earnings at $2.00 EPS, Q4 2023 earnings at $2.28 EPS and FY2023 earnings at $9.55 EPS.

Other equities research analysts have also recently issued reports about the company. Credit Suisse Group upped their price target on Tractor Supply from $190.00 to $215.00 and gave the stock a neutral rating in a research note on Friday, October 22nd. Stephens raised their price objective on Tractor Supply from $216.00 to $241.00 and gave the stock an overweight rating in a report on Friday, October 22nd. Loop Capital lifted their price target on Tractor Supply from $200.00 to $215.00 and gave the stock a hold rating in a research report on Friday, October 22nd. Wells Fargo & Company boosted their price objective on Tractor Supply from $230.00 to $265.00 in a research note on Wednesday, January 5th. Finally, Citigroup upped their price objective on Tractor Supply from $185.00 to $220.00 and gave the company a neutral rating in a report on Friday, October 22nd. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Buy and an average price target of $226.28.

TSCO traded down $5.70 during trading hours on Thursday, reaching $225.09. The company’s stock had a trading volume of 10,932 shares, compared to its average volume of 739,011. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.69. The firm has a market cap of $25.62 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 2.59 and a beta of 0.91. The company’s 50-day moving average is $228.52 and its 200-day moving average is $207.50. Tractor Supply has a 52 week low of $139.11 and a 52 week high of $239.86.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Wednesday, October 20th. The specialty retailer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.29. Tractor Supply had a net margin of 7.42% and a return on equity of 49.84%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts anticipate that Tractor Supply will post 8.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 8th. Investors of record on Monday, November 22nd were issued a $0.52 dividend. The ex-dividend date was Friday, November 19th. This represents a $2.08 dividend on an annualized basis and a yield of 0.92%. Tractor Supply’s payout ratio is 26.53%.

In other Tractor Supply news, EVP Melissa Kersey sold 850 shares of the company’s stock in a transaction on Tuesday, October 26th. The stock was sold at an average price of $210.01, for a total transaction of $178,508.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 11,844 shares of the stock in a transaction on Friday, October 29th. The shares were sold at an average price of $215.00, for a total value of $2,546,460.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,516 shares of company stock valued at $3,809,919. 0.70% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Tractor Supply by 3.1% during the third quarter. BlackRock Inc. now owns 11,093,754 shares of the specialty retailer’s stock worth $2,247,707,000 after purchasing an additional 331,051 shares during the last quarter. State Street Corp lifted its position in shares of Tractor Supply by 0.9% during the 2nd quarter. State Street Corp now owns 4,849,931 shares of the specialty retailer’s stock valued at $902,378,000 after acquiring an additional 41,408 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Tractor Supply by 8.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,822,443 shares of the specialty retailer’s stock valued at $525,143,000 after acquiring an additional 227,074 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Tractor Supply by 149.1% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,113,836 shares of the specialty retailer’s stock worth $428,284,000 after purchasing an additional 1,265,148 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Tractor Supply by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,101,118 shares of the specialty retailer’s stock worth $424,587,000 after purchasing an additional 42,470 shares during the last quarter. 84.65% of the stock is currently owned by institutional investors.

Tractor Supply Company Profile

Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense.

Further Reading: Net Income

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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