Morgan Stanley Increases Tractor Supply (NASDAQ:TSCO) Price Target to $235.00

Tractor Supply (NASDAQ:TSCO) had its price objective hoisted by investment analysts at Morgan Stanley from $195.00 to $235.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s price target would suggest a potential downside of 14.20% from the company’s previous close.

Several other brokerages have also commented on TSCO. Mizuho reiterated a “neutral” rating and set a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a research report on Friday. Robert W. Baird increased their price objective on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Company increased their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Wedbush reiterated a “neutral” rating and set a $235.00 price objective on shares of Tractor Supply in a research report on Tuesday, April 23rd. Finally, Benchmark reiterated a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $248.17.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $273.90 on Friday. The business’s 50-day moving average price is $252.44 and its two-hundred day moving average price is $226.74. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $274.66. The stock has a market cap of $29.56 billion, a P/E ratio of 26.67, a PEG ratio of 3.97 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. As a group, equities analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 401 shares of Tractor Supply stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the sale, the chief financial officer now directly owns 25,013 shares in the company, valued at approximately $5,804,516.78. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the transaction, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the transaction, the chief financial officer now owns 25,013 shares of the company’s stock, valued at approximately $5,804,516.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. raised its stake in Tractor Supply by 8.0% during the first quarter. Patrick M Sweeney & Associates Inc. now owns 1,064 shares of the specialty retailer’s stock valued at $279,000 after buying an additional 79 shares during the last quarter. Tritonpoint Wealth LLC raised its stake in Tractor Supply by 5.4% during the first quarter. Tritonpoint Wealth LLC now owns 3,340 shares of the specialty retailer’s stock valued at $874,000 after buying an additional 172 shares during the last quarter. Lindbrook Capital LLC raised its stake in Tractor Supply by 10.9% during the first quarter. Lindbrook Capital LLC now owns 459 shares of the specialty retailer’s stock valued at $120,000 after buying an additional 45 shares during the last quarter. WCM Investment Management LLC raised its stake in Tractor Supply by 2.3% during the first quarter. WCM Investment Management LLC now owns 3,702 shares of the specialty retailer’s stock valued at $969,000 after buying an additional 82 shares during the last quarter. Finally, TRUE Private Wealth Advisors raised its stake in Tractor Supply by 6.5% during the first quarter. TRUE Private Wealth Advisors now owns 1,698 shares of the specialty retailer’s stock valued at $444,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.