Telsey Advisory Group Analysts Lift Earnings Estimates for Tractor Supply (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO – Get Rating) – Research analysts at Telsey Advisory Group upped their Q1 2023 EPS estimates for shares of Tractor Supply in a report released on Friday, July 22nd. Telsey Advisory Group analyst J. Feldman now forecasts that the specialty retailer will post earnings per share of $1.82 for the quarter, up from their previous estimate of $1.80. The consensus estimate for Tractor Supply’s current full-year earnings is $9.58 per share. Telsey Advisory Group also issued estimates for Tractor Supply’s Q2 2023 earnings at $3.92 EPS, Q3 2023 earnings at $2.35 EPS, Q4 2023 earnings at $2.43 EPS and FY2023 earnings at $10.52 EPS.

Several other equities analysts have also weighed in on TSCO. Guggenheim cut their target price on Tractor Supply to $225.00 in a research note on Friday. Piper Sandler set a $253.00 price target on shares of Tractor Supply in a research report on Tuesday, July 19th. Robert W. Baird restated a “buy” rating and set a $250.00 price objective on shares of Tractor Supply in a report on Thursday, April 14th. The Goldman Sachs Group cut their target price on shares of Tractor Supply from $260.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, June 27th. Finally, Bank of America raised shares of Tractor Supply from a “neutral” rating to a “buy” rating and boosted their price target for the company from $250.00 to $260.00 in a report on Tuesday, June 14th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target of $239.95.

Tractor Supply Stock Down 1.8 %

NASDAQ:TSCO opened at $194.89 on Monday. The company has a quick ratio of 0.27, a current ratio of 1.44 and a debt-to-equity ratio of 0.53. Tractor Supply has a 12-month low of $166.49 and a 12-month high of $241.54. The stock’s fifty day simple moving average is $194.99 and its 200-day simple moving average is $210.30. The firm has a market capitalization of $21.80 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.03 and a beta of 0.97.

Tractor Supply (NASDAQ:TSCO – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The specialty retailer reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.02. Tractor Supply had a net margin of 7.76% and a return on equity of 53.29%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm earned $3.19 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Wednesday, May 25th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is currently 40.62%.

Insider Buying and Selling at Tractor Supply

In other 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 completion of the transaction, the director now directly owns 24,280 shares in the company, valued at approximately $4,737,028. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Institutional investors and hedge funds have recently made changes to their positions in the stock. New England Professional Planning Group Inc. bought a new stake in shares of Tractor Supply in the 1st quarter valued at about $239,000. BDO Wealth Advisors LLC raised its stake in Tractor Supply by 78.1% in the first quarter. BDO Wealth Advisors LLC now owns 114 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 50 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of Tractor Supply in the fourth quarter valued at approximately $29,000. Fortitude Advisory Group L.L.C. raised its stake in Tractor Supply by 350.0% in 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 period. Finally, Allworth Financial LP lifted its holdings in 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 purchasing an additional 98 shares during the last quarter. Institutional investors own 83.17% of the company’s stock.

Tractor Supply Company Profile

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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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