Tractor Supply (NASDAQ:TSCO) Raised to “Strong-Buy” at Evercore ISI

Tractor Supply (NASDAQ:TSCO) was upgraded by equities research analysts at Evercore ISI from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

TSCO has been the subject of several other reports. Barclays boosted their target price on Tractor Supply from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Raymond James raised their target price on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a report on Thursday, October 17th. Piper Sandler raised their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Mizuho boosted their target price on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $282.82.

Tractor Supply Stock Performance

NASDAQ:TSCO opened at $276.82 on Friday. Tractor Supply has a 52 week low of $193.73 and a 52 week high of $307.64. The company has a fifty day simple moving average of $284.41 and a two-hundred day simple moving average of $275.42. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 3.46 and a beta of 0.82.

Insider Transactions at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several institutional investors have recently modified their holdings of TSCO. Wellington Management Group LLP boosted its position in Tractor Supply by 3.5% during the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock worth $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. State Street Corp boosted its position in shares of Tractor Supply by 1.1% in the 3rd quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock worth $1,314,521,000 after buying an additional 47,951 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Tractor Supply by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after acquiring an additional 368,859 shares during the last quarter. Geode Capital Management LLC increased its holdings in Tractor Supply by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,885,688 shares of the specialty retailer’s stock valued at $837,156,000 after acquiring an additional 43,998 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Tractor Supply by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,123,280 shares of the specialty retailer’s stock worth $303,278,000 after acquiring an additional 110,342 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

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.