Tractor Supply (NASDAQ:TSCO) Given New $250.00 Price Target at Evercore ISI

Tractor Supply (NASDAQ:TSCOFree Report) had its price objective raised by Evercore ISI from $240.00 to $250.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

A number of other research analysts have also commented on TSCO. Morgan Stanley restated an underweight rating and set a $195.00 price target on shares of Tractor Supply in a research report on Tuesday, January 16th. Raymond James lowered shares of Tractor Supply from a strong-buy rating to an outperform rating and boosted their price target for the company from $230.00 to $250.00 in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Tractor Supply from $230.00 to $250.00 and gave the company an overweight rating in a research report on Monday, January 22nd. The Goldman Sachs Group upped their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research report on Friday. Finally, StockNews.com began coverage on shares of Tractor Supply in a research report on Thursday, October 5th. They issued a hold rating for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $237.40.

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Tractor Supply Trading Down 0.9 %

Shares of TSCO stock opened at $230.96 on Friday. The company’s fifty day simple moving average is $218.61 and its two-hundred day simple moving average is $212.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $251.17. The stock has a market capitalization of $24.97 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 3.45 and a beta of 0.83.

Tractor Supply (NASDAQ:TSCOGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.43 EPS. As a group, analysts anticipate that Tractor Supply will post 10.21 earnings per share for the current year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Monday, November 27th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, November 24th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.78%. Tractor Supply’s dividend payout ratio is currently 40.83%.

Institutional Trading of Tractor Supply

A number of institutional investors have recently modified their holdings of TSCO. Synovus Financial Corp boosted its holdings in shares of Tractor Supply by 1.9% during the first quarter. Synovus Financial Corp now owns 5,006 shares of the specialty retailer’s stock worth $1,166,000 after purchasing an additional 93 shares during the period. Cibc World Market Inc. lifted its holdings in Tractor Supply by 10.4% in the first quarter. Cibc World Market Inc. now owns 12,622 shares of the specialty retailer’s stock worth $2,946,000 after buying an additional 1,186 shares during the period. Sei Investments Co. lifted its holdings in Tractor Supply by 12.1% in the first quarter. Sei Investments Co. now owns 75,163 shares of the specialty retailer’s stock worth $17,565,000 after buying an additional 8,129 shares during the period. Prudential PLC purchased a new stake in Tractor Supply in the first quarter worth about $611,000. Finally, Cetera Investment Advisers lifted its holdings in Tractor Supply by 15.8% in the first quarter. Cetera Investment Advisers now owns 6,238 shares of the specialty retailer’s stock worth $1,456,000 after buying an additional 849 shares during the period. 90.38% of the stock is currently owned by hedge funds and other institutional investors.

About Tractor Supply

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Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

Further Reading

Analyst Recommendations for Tractor Supply (NASDAQ:TSCO)

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