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

Tractor Supply (NASDAQ:TSCO) had its price target lifted by equities research analysts at Bank of America from $44.00 to $53.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the specialty retailer’s stock. Bank of America‘s price target indicates a potential downside of 1.23% from the company’s previous close.

A number of other equities analysts also recently issued reports on TSCO. Piper Sandler raised their price objective on Tractor Supply from $60.00 to $66.40 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Raymond James boosted their price target on shares of Tractor Supply from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wedbush restated a “neutral” rating and issued a $54.00 target price on shares of Tractor Supply in a report on Friday, October 25th. Loop Capital lifted their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Finally, Evercore ISI upgraded Tractor Supply from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and an average target price of $58.01.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $53.66 on Thursday. The company has a market capitalization of $28.66 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.09 and a beta of 0.84. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. Tractor Supply has a twelve month low of $44.35 and a twelve month high of $61.53. The stock has a fifty day simple moving average of $55.02 and a 200 day simple moving average of $54.97.

Institutional Investors Weigh In On Tractor Supply

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its stake in Tractor Supply by 10.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,046 shares of the specialty retailer’s stock valued at $822,000 after purchasing an additional 279 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Tractor Supply by 24.2% in the second quarter. Mutual of America Capital Management LLC now owns 23,473 shares of the specialty retailer’s stock valued at $6,338,000 after purchasing an additional 4,573 shares in the last quarter. Argent Trust Co boosted its position in shares of Tractor Supply by 6.6% during the second quarter. Argent Trust Co now owns 1,524 shares of the specialty retailer’s stock valued at $411,000 after buying an additional 95 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Tractor Supply by 1.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,464 shares of the specialty retailer’s stock worth $935,000 after buying an additional 42 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in Tractor Supply by 10.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,064 shares of the specialty retailer’s stock valued at $3,257,000 after buying an additional 1,166 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

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.