Truist Financial Cuts Tractor Supply (NASDAQ:TSCO) Price Target to $60.00

Tractor Supply (NASDAQ:TSCO) had its target price trimmed by Truist Financial from $63.00 to $60.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

Other equities analysts have also recently issued research reports about the company. Benchmark upped their price target on Tractor Supply from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Mizuho increased their target price on Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Robert W. Baird set a $64.00 target price on Tractor Supply in a report on Thursday, October 17th. Bank of America increased their target price on Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a report on Thursday, January 16th. Finally, Loop Capital increased their target price on Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $54.36 on Friday. The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.29 and a beta of 0.84. Tractor Supply has a twelve month low of $44.35 and a twelve month 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 stock has a 50-day moving average of $55.24 and a 200 day moving average of $55.22.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 30th. The specialty retailer reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 50.19% and a net margin of 7.53%. Sell-side analysts anticipate that Tractor Supply will post 2.05 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, November 25th. Tractor Supply’s dividend payout ratio is currently 42.80%.

Institutional Investors Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently bought and sold shares of TSCO. AQR Capital Management LLC lifted its stake in Tractor Supply by 8.0% in the 2nd quarter. AQR Capital Management LLC now owns 21,312 shares of the specialty retailer’s stock valued at $5,754,000 after buying an additional 1,572 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Tractor Supply by 9.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 18,726 shares of the specialty retailer’s stock valued at $5,056,000 after buying an additional 1,553 shares in the last quarter. Quarry LP lifted its stake in Tractor Supply by 7,700.0% in the 2nd quarter. Quarry LP now owns 156 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 154 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Tractor Supply in the 2nd quarter valued at approximately $13,353,000. Finally, Czech National Bank lifted its stake in Tractor Supply by 7.0% in the 3rd quarter. Czech National Bank now owns 21,974 shares of the specialty retailer’s stock valued at $6,393,000 after buying an additional 1,429 shares in 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.