Wells Fargo & Company Issues Pessimistic Forecast for Tractor Supply (NASDAQ:TSCO) Stock Price

Tractor Supply (NASDAQ:TSCO) had its price target lowered by investment analysts at Wells Fargo & Company from $325.00 to $320.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.21% from the stock’s current price.

Several other analysts have also commented on the stock. Gordon Haskett lowered shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. Loop Capital lifted their price target on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Raymond James lifted their price target on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $282.59.

Tractor Supply Stock Down 2.0 %

TSCO stock opened at $280.19 on Monday. The firm has a market cap of $29.94 billion, a PE ratio of 27.26, a PEG ratio of 3.53 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. The firm’s 50 day moving average price is $284.23 and its 200-day moving average price is $275.68. Tractor Supply has a one year low of $197.00 and a one year high of $307.64.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors and hedge funds have recently modified their holdings of TSCO. LRI Investments LLC acquired a new position in shares of Tractor Supply during the first quarter worth $28,000. Silvercrest Asset Management Group LLC grew its stake in shares of Tractor Supply by 10.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 9,587 shares of the specialty retailer’s stock worth $2,509,000 after purchasing an additional 902 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Tractor Supply by 18.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 8,118 shares of the specialty retailer’s stock valued at $2,125,000 after acquiring an additional 1,261 shares in the last quarter. Tidal Investments LLC boosted its stake in Tractor Supply by 321.9% in the first quarter. Tidal Investments LLC now owns 16,477 shares of the specialty retailer’s stock valued at $4,312,000 after acquiring an additional 12,572 shares in the last quarter. Finally, Comerica Bank boosted its stake in Tractor Supply by 2.8% in the first quarter. Comerica Bank now owns 28,151 shares of the specialty retailer’s stock valued at $7,368,000 after acquiring an additional 779 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Tractor Supply

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.