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Truist Financial Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $246.00 – Defense World

Written by Amanda

Tractor Supply (NASDAQ:TSCOGet Rating) had its price target trimmed by Truist Financial from $266.00 to $246.00 in a report published on Wednesday, The Fly reports. The firm currently has a buy rating on the specialty retailer’s stock.

A number of other equities research analysts have also commented on TSCO. Gordon Haskett lowered shares of Tractor Supply from a buy rating to an accumulate rating in a report on Friday, May 6th. Piper Sandler upped their price objective on shares of Tractor Supply from $258.00 to $261.00 and gave the stock an overweight rating in a report on Friday, April 22nd. Bank of America upgraded shares of Tractor Supply from a neutral rating to a buy rating and upped their price objective for the stock from $250.00 to $260.00 in a report on Tuesday, June 14th. Citigroup upped their price objective on shares of Tractor Supply from $240.00 to $250.00 and gave the stock a buy rating in a report on Friday, April 22nd. Finally, Raymond James upped their price objective on shares of Tractor Supply from $245.00 to $255.00 and gave the stock a strong-buy rating in a report on Friday, April 22nd. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $241.72.

NASDAQ:TSCO opened at $197.55 on Wednesday. The company has a fifty day moving average of $195.15 and a 200 day moving average of $213.06. Tractor Supply has a 52 week low of $166.49 and a 52 week high of $241.54. The company has a quick ratio of 0.27, a current ratio of 1.44 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $22.10 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.04 and a beta of 0.97.

Tractor Supply (NASDAQ:TSCOGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.25. Tractor Supply had a net margin of 7.74% and a return on equity of 51.48%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $1.55 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Tractor Supply will post 9.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Wednesday, May 25th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.86%. The ex-dividend date was Tuesday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is 42.20%.

In related news, Director Cynthia T. Jamison sold 5,200 shares of the stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $195.10, for a total transaction of $1,014,520.00. Following the sale, the director now directly owns 24,280 shares of the company’s stock, valued at approximately $4,737,028. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TSCO. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Tractor Supply by 194.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 106 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. BDO Wealth Advisors LLC boosted its holdings in shares of Tractor Supply by 78.1% during the 1st quarter. BDO Wealth Advisors LLC now owns 114 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Tractor Supply during the 4th quarter valued at about $29,000. Fortitude Advisory Group L.L.C. boosted its holdings in shares of Tractor Supply by 350.0% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 126 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 98 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Tractor Supply by 272.2% during the 1st quarter. Allworth Financial LP now owns 134 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

About Tractor Supply (Get Rating)

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.

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai