Tractor Supply (NASDAQ:TSCO) Rating Increased to Strong-Buy at Evercore ISI

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

TSCO has been the subject of a number of other reports. Benchmark increased their price target on Tractor Supply from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Truist Financial cut their price target on Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Robert W. Baird set a $320.00 price objective on Tractor Supply in a research note on Thursday, October 17th. Mizuho lifted their target price on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $282.82.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $276.82 on Friday. Tractor Supply has a one year low of $193.73 and a one year high of $307.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 0.17. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 3.46 and a beta of 0.82. The firm has a 50 day simple moving average of $284.41 and a 200 day simple moving average of $275.42.

Insider Buying and Selling

In other Tractor Supply 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSCO. Future Financial Wealth Managment LLC bought a new position in Tractor Supply in the 3rd quarter valued at about $29,000. First Personal Financial Services bought a new position in shares of Tractor Supply in the third quarter valued at approximately $29,000. LRI Investments LLC purchased a new position in shares of Tractor Supply during the first quarter valued at approximately $28,000. Whittier Trust Co. grew its holdings in Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Finally, Providence Capital Advisors LLC purchased a new stake in Tractor Supply in the 3rd quarter valued at $32,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.