DA Davidson Reaffirms “Buy” Rating for Tractor Supply (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO)‘s stock had its “buy” rating restated by equities researchers at DA Davidson in a research report issued on Thursday,Benzinga reports. They currently have a $60.00 price objective on the specialty retailer’s stock. DA Davidson’s price target points to a potential upside of 34.03% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Wolfe Research reiterated an “outperform” rating and set a $57.00 target price on shares of Tractor Supply in a research report on Friday, January 30th. Stephens set a $53.00 price target on shares of Tractor Supply and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their target price on Tractor Supply from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Zacks Research cut Tractor Supply from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Finally, TD Cowen cut their target price on Tractor Supply from $55.00 to $53.00 and set a “hold” rating on the stock in a report on Friday, January 30th. Fourteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.09.

Tractor Supply Trading Up 0.0%

Shares of NASDAQ:TSCO traded up $0.02 during trading on Thursday, reaching $44.77. The stock had a trading volume of 2,580,282 shares, compared to its average volume of 6,771,007. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 2.40 and a beta of 0.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34. Tractor Supply has a 52 week low of $43.23 and a 52 week high of $63.99. The firm’s fifty day moving average is $49.10 and its 200 day moving average is $51.92.

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

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 84,670 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 directly owned 606,842 shares of the company’s stock, valued at approximately $32,259,720.72. This represents a 12.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 1,929 shares of Tractor Supply stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $53.94, for a total transaction of $104,050.26. Following the transaction, the chief financial officer directly owned 44,736 shares in the company, valued at approximately $2,413,059.84. This represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 222,348 shares of company stock valued at $11,959,621 in the last quarter. 0.64% of the stock is owned by company insiders.

Institutional Trading of Tractor Supply

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Tractor Supply during the 4th quarter worth approximately $303,862,000. Victory Capital Management Inc. lifted its stake 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 valued at $256,408,000 after purchasing an additional 3,958,205 shares during the last quarter. Select Equity Group L.P. grew its holdings 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 purchasing an additional 3,753,414 shares during the period. APG Asset Management N.V. increased its position in Tractor Supply by 505.1% in the third quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer’s stock worth $246,222,000 after buying an additional 3,614,097 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Tractor Supply by 18.4% in the fourth quarter. Invesco Ltd. now owns 17,433,611 shares of the specialty retailer’s stock valued at $871,855,000 after buying an additional 2,706,819 shares during the period. 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.