Wells Fargo & Company Lowers Tractor Supply (NASDAQ:TSCO) Price Target to $320.00

Tractor Supply (NASDAQ:TSCO) had its price objective dropped by research analysts at Wells Fargo & Company from $325.00 to $320.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.90% from the company’s current price.

Other analysts have also issued research reports about the company. Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. UBS Group increased their target price on shares of Tractor Supply from $272.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Telsey Advisory Group reissued an “outperform” rating and issued a $335.00 price objective on shares of Tractor Supply in a research report on Thursday, October 24th. Barclays raised their price target 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. Finally, DA Davidson lifted their price target on shares of Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $282.59.

Tractor Supply Price Performance

Shares of TSCO stock traded up $4.27 on Monday, hitting $285.98. 155,426 shares of the stock traded hands, compared to its average volume of 1,046,240. The firm has a market cap of $30.55 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.53 and a beta of 0.82. 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 firm has a 50 day simple moving average of $284.18 and a two-hundred day simple moving average of $275.57. Tractor Supply has a 52 week low of $197.00 and a 52 week high of $307.64.

Insider Buying and Selling

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now directly owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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