Bank of America Forecasts Strong Price Appreciation for Tractor Supply (NASDAQ:TSCO) Stock

Tractor Supply (NASDAQ:TSCO) had its price objective upped by investment analysts at Bank of America from $44.00 to $53.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the specialty retailer’s stock. Bank of America‘s target price would suggest a potential downside of 1.11% from the company’s current price.

TSCO has been the topic of a number of other reports. Loop Capital raised their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Gordon Haskett cut shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. Barclays dropped their price target on shares of Tractor Supply from $262.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Robert W. Baird set a $64.00 price target on shares of Tractor Supply in a report on Thursday, October 17th. Finally, Benchmark upped their price objective on Tractor Supply from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $58.01.

Tractor Supply Trading Up 0.9 %

Shares of Tractor Supply stock traded up $0.49 during trading hours on Thursday, reaching $53.59. 1,422,829 shares of the company’s stock were exchanged, compared to its average volume of 4,639,555. The firm has a market capitalization of $28.63 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.84. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. Tractor Supply has a 52-week low of $44.16 and a 52-week high of $61.53. The company has a fifty day moving average of $55.19 and a 200-day moving average of $54.98.

Hedge Funds Weigh In On Tractor Supply

A number of institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Tractor Supply in the third quarter worth about $29,000. First Personal Financial Services purchased a new stake in Tractor Supply during the 3rd quarter worth approximately $29,000. Providence Capital Advisors LLC purchased a new stake in Tractor Supply during the 3rd quarter worth approximately $32,000. DT Investment Partners LLC raised its position in shares of Tractor Supply by 120.0% in the 3rd quarter. DT Investment Partners LLC now owns 132 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 72 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Tractor Supply by 2,383.3% during the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 143 shares during 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.