Analysts Set Tractor Supply (NASDAQ:TSCO) Price Target at $58.25

Tractor Supply (NASDAQ:TSCO) has been assigned an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $58.25.

A number of equities research analysts have issued reports on the stock. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Piper Sandler raised their price objective on Tractor Supply from $60.00 to $66.40 and gave the company an “overweight” rating in a research note on Monday, October 14th. Loop Capital increased their target price on shares of Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. DA Davidson increased their price target on Tractor Supply from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Wedbush reiterated a “neutral” rating and issued a $54.00 target price on shares of Tractor Supply in a research report on Friday, October 25th.

Tractor Supply Stock Up 0.4 %

NASDAQ TSCO opened at $54.59 on Wednesday. The company has a 50 day moving average of $55.31 and a 200-day moving average of $54.99. Tractor Supply has a 1-year low of $43.83 and a 1-year high of $61.53. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The company has a market cap of $29.16 billion, a price-to-earnings ratio of 5.31, a PEG ratio of 3.58 and a beta of 0.84.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, November 25th. Tractor Supply’s payout ratio is 42.72%.

Institutional Investors Weigh In On Tractor Supply

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Henrickson Nauta Wealth Advisors Inc. raised its holdings in Tractor Supply by 3.2% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after buying an additional 35 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Tractor Supply by 0.5% in the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after purchasing an additional 37 shares during the last quarter. Baldwin Investment Management LLC lifted its stake in Tractor Supply by 0.3% during the 3rd quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after acquiring an additional 38 shares in the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Tractor Supply by 5.1% during the third quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock worth $246,000 after purchasing an additional 41 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of Tractor Supply by 0.7% in the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock valued at $1,611,000 after acquiring an additional 41 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

About Tractor Supply

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.