Tractor Supply (NASDAQ:TSCO) Price Target Cut to $52.00 by Analysts at Barclays

Tractor Supply (NASDAQ:TSCO) had its target price reduced by Barclays from $262.00 to $52.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s target price would indicate a potential downside of 1.68% from the company’s previous close.

Several other research firms have also recently issued reports on TSCO. Truist Financial cut their price objective on shares of Tractor Supply from $65.00 to $63.40 and set a “buy” rating for the company in a research report on Friday, October 25th. Mizuho lifted their price target on shares of Tractor Supply from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company decreased their price objective on Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. UBS Group raised their target price on Tractor Supply from $54.40 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and a consensus target price of $57.96.

Tractor Supply Trading Down 3.1 %

NASDAQ:TSCO traded down $1.67 during trading hours on Monday, hitting $52.89. The company had a trading volume of 2,260,220 shares, compared to its average volume of 5,246,344. Tractor Supply has a 1 year low of $42.35 and a 1 year high of $61.53. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $55.69 and a 200 day moving average of $55.18. The company has a market cap of $28.25 billion, a P/E ratio of 5.14, a P/E/G ratio of 3.58 and a beta of 0.83.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 117,660 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $59.13, for a total value of $6,957,000.48. Following the sale, the chief financial officer now directly owns 48,415 shares in the company, valued at approximately $2,862,682.12. This trade represents a 70.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

Institutional Trading of Tractor Supply

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ballentine Partners LLC boosted its stake in Tractor Supply by 2.1% in the second quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after acquiring an additional 93 shares in the last quarter. Silvant Capital Management LLC boosted its position in shares of Tractor Supply by 20.9% in the 3rd quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock valued at $4,300,000 after purchasing an additional 2,556 shares during the period. Blueshift Asset Management LLC grew its stake in Tractor Supply by 32.7% during the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after buying an additional 2,452 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Tractor Supply in the second quarter valued at approximately $13,353,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Tractor Supply by 48.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,801 shares of the specialty retailer’s stock valued at $2,851,000 after acquiring an additional 3,182 shares during the period. 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.