Wedbush Maintains Neutral Rating for Tractor Supply (NASDAQ:TSCO)

In a recent research update, equities analysts at Wedbush reaffirmed their "neutral" outlook on Tractor Supply Company (NASDAQ:TSCO) and established a target price of $270.00 for its shares. This target price suggests that there could be a slight decline of about 1.43% from its last trading price.

Additional Analyst Insights

Other analysts have also been sharing their views on Tractor Supply. For instance, Truist Financial lowered their price target from $325.00 to $317.00, while maintaining a "buy" recommendation. Benchmark reiterated a "buy" rating and set a price target of $280.00. Meanwhile, Evercore ISI adjusted their rating from "outperform" to "in-line," with a target of $300.00. Additionally, Robert W. Baird established a target price of $320.00, and UBS Group upgraded their stance from "hold" to "strong buy" just a few weeks back.

Currently, the ratings for Tractor Supply include two sell recommendations, eight holds, eleven buys, and one strong buy, resulting in an overall average rating of "Moderate Buy" with a target price averaging $272.14 according to MarketBeat.

Tractor Supply's Market Performance

On Friday, shares of Tractor Supply traded down by $0.38, reaching $273.91. The trading volume was recorded at 263,081 shares, well below the company's average volume of approximately 1,049,805 shares. Tractor Supply has a market capitalization of $29.55 billion, a price-to-earnings (P/E) ratio of 26.59, and has had stock fluctuations from a one-year low of $185.00 to a high of $307.64.

Financial Results and Outlook

The company recently reported its quarterly earnings on October 24th, where it posted $2.24 earnings per share, slightly above the consensus estimate of $2.23. However, revenue came in at $3.47 billion, falling short of the expected $3.49 billion. Analysts are forecasting an EPS of 10.23 for the current financial year.

Insider Activity

In terms of insider transactions, CFO Kurt D. Barton sold 23,532 shares at approximately $295.64 each earlier this month. Additionally, SVP Matthew L. Rubin sold 540 shares at $262.35 in August, indicating less than a 1% change in their respective holdings after the transactions. Company insiders collectively own about 0.24% of Tractor Supply's stock.

Institutional Investment Trends

Institutional investors have been actively involved with Tractor Supply's shares. Notable investments include Future Financial Wealth Management purchasing a new stake valued at around $26,000, and LRI Investments, which invested about $28,000. Other entities like J.Safra Asset Management have significantly increased their stakes, with hedge funds owning approximately 98.72% of Tractor Supply's stock altogether.

About Tractor Supply Company

Tractor Supply Company operates as a retailer focused on the rural lifestyle in the United States. Their offerings range from livestock and equine equipment to seasonal recreation products and a variety of clothing and home decor goods.

Wedbush, Tractor Supply, Analysis