Bank of America Raises Tractor Supply (NASDAQ:TSCO) Price Target to $53.00

Tractor Supply (NASDAQ:TSCO) had its price target hoisted by investment analysts at Bank of America from $44.00 to $53.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the specialty retailer’s stock. Bank of America‘s price target suggests a potential downside of 1.23% from the company’s previous close.

TSCO has been the topic of several other research reports. DA Davidson upped their target price on Tractor Supply from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Raymond James upped their price objective on Tractor Supply from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Melius Research initiated coverage on Tractor Supply in a report on Monday, September 23rd. They set a “buy” rating and a $63.00 target price for the company. Benchmark upped their price target on shares of Tractor Supply from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.01.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $53.66 on Thursday. The company has a market capitalization of $28.66 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.09 and a beta of 0.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48. Tractor Supply has a 52 week low of $44.35 and a 52 week high of $61.53. The company has a 50-day simple moving average of $55.02 and a 200 day simple moving average of $54.97.

Institutional Investors Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Silvant Capital Management LLC boosted its position in Tractor Supply by 20.9% in the third quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock valued at $4,300,000 after buying an additional 2,556 shares in the last quarter. Blueshift Asset Management LLC lifted its stake in shares of Tractor Supply by 32.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock valued at $2,893,000 after acquiring an additional 2,452 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Tractor Supply during the 2nd quarter valued at $13,353,000. Allspring Global Investments Holdings LLC grew its position in Tractor Supply by 48.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,801 shares of the specialty retailer’s stock worth $2,851,000 after acquiring an additional 3,182 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tractor Supply by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 631,406 shares of the specialty retailer’s stock worth $183,695,000 after purchasing an additional 8,142 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Company Profile

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.