Baird Raises Tractor Supply (TSCO) Price Target to $40
Key Points
- Baird maintained an Outperform rating on Tractor Supply Company on October 23, 2026, while increasing its price target to $40 from $38.
- Baird's $40 price target implies 15.17% upside from Tractor Supply Company's ($TSCO) current $34.73 share price.
- Tractor Supply Company recently traded around $34.73, sitting above its 50-day moving average of $33.58.
- The rural lifestyle retailer posted trailing twelve-month revenue of $15.9 billion and net income margins of 6.1%.
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On October 23, 2026, Baird maintained its Outperform rating on Tractor Supply Company (NasdaqGS: TSCO) while raising its price target to $40 from $38. The research note update came out on the same day the stock closed at $34.73 on October 22, 2026.
TSCO
Tractor Supply Company
Baird vs. the S&P 500
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Baird's Call on Tractor Supply
In its research note published on October 23, 2026, Baird kept its Outperform rating on Tractor Supply Company and lifted the price target from $38.00 to $40.00. The firm remains positive on the rural lifestyle retailer's outlook, positioning its new target well above recent trading levels.
Other Institutional Activity in Tractor Supply
Capital International Investors grew its holdings by 13,579,210 shares, ending with 25,833,709 shares worth about $897.2 million.
Tractor Supply Company Stock Up 6.2%
Shares of Tractor Supply recently traded around $34.73 as of October 23, 2026, matching their close from the previous session. The stock sits about 3.4% above its 50-day moving average of $33.58, though it remains about 10.1% below its 200-day moving average of $38.64. The share price is down about 40.3% from its 52-week high of $58.20 and up about 22.5% from its 52-week low of $28.36.
$TSCO price target
Tractor Supply Company daily closes and this analyst's $40 target. Not advice.
Recent Earnings
Tractor Supply reported trailing twelve-month revenue of $15.9 billion alongside net income margins of 6.1%. The company recorded earnings of $1.86 per share over the same trailing period, with a return on equity of 37.3%. Investors can look ahead to the next earnings report scheduled for January 28, 2027.
Dividend
Tractor Supply pays an annual dividend of $0.96 per share, yielding 2.76% based on recent prices. The payout ratio sits at 49.0% of earnings.
Insider Buying and Selling at Tractor Supply Company
Director Andre J Hawaux bought 3,150 shares on August 3, 2026, at an average price of $31.83 for a total of $100,264. Director Edna K Morris bought 1,560 shares on August 4, 2026, at $32.44 per share, totaling $50,606. Chief Executive Officer Harry A Lawton III bought 15,600 shares on August 4, 2026, valued at $501,524. Director Margaret M Ham bought 84 shares on September 4, 2026, at $35.05 per share for a total of $2,975. None of these transactions were made under a Rule 10b5-1 plan.
Analysts Set New Price Targets
Piper Sandler maintained its Neutral rating on October 19, 2026, while raising its target to $33 from $31. Wells Fargo maintained an Overweight rating on October 19, 2026, lifting its target to $36 from $35. Truist Securities kept a Hold rating on October 19, 2026, adjusting its target to $33 from $32. BNP Paribas maintained an Outperform rating on October 23, 2026, moving its target to $38 from $34. Across 27 analyst opinions, the stock holds a consensus buy rating with a mean price target of $36.70.
About Tractor Supply
Tractor Supply Company runs rural lifestyle retail stores across the United States, catering to recreational farmers, ranchers, and tradespeople with products for home, land, pet, and animal maintenance. The company's ongoing retail performance and consumer demand trends remain key areas of interest for institutional investors and analysts alike.
Bottom Line
Baird's updated target highlights confidence in the retailer despite shares trading below their longer-term moving averages. Investors will watch for the next earnings release on January 28, 2027, to gauge recent sales trends and operational updates.
Related Filing Alerts
Source: Baird's rating change on $TSCO (Oct 23, 2026). Written by software, not financial advice. How we make alerts