Tractor Supply (NASDAQ:TSCO) Upgraded to Outperform at Mizuho

Tractor Supply (NASDAQ:TSCO) was upgraded by Mizuho from a “neutral” rating to an “outperform” rating in a research note issued on Monday, Marketbeat.com reports. The firm presently has a $60.00 price target on the specialty retailer’s stock, up from their prior price target of $54.00. Mizuho’s price target would suggest a potential upside of 11.38% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Tractor Supply from $60.00 to $66.40 and gave the stock an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on Tractor Supply from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Robert W. Baird set a $64.00 target price on Tractor Supply in a research report on Thursday, October 17th. Benchmark increased their price target on Tractor Supply from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tractor Supply has a consensus rating of “Moderate Buy” and a consensus price target of $58.25.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $53.87 on Monday. The company has a market cap of $28.78 billion, a P/E ratio of 5.24, a PEG ratio of 3.58 and a beta of 0.84. The company has a fifty day simple moving average of $55.25 and a 200 day simple moving average of $54.98. 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 12-month low of $43.56 and a 12-month high of $61.53.

Institutional Trading of Tractor Supply

A number of institutional investors have recently modified their holdings of TSCO. Ballentine Partners LLC increased its position in shares of Tractor Supply by 2.1% during the second quarter. Ballentine Partners LLC now owns 4,504 shares of the specialty retailer’s stock valued at $1,216,000 after buying an additional 93 shares during the period. Silvant Capital Management LLC increased its holdings in Tractor Supply by 20.9% during the 3rd quarter. Silvant Capital Management LLC now owns 14,781 shares of the specialty retailer’s stock worth $4,300,000 after acquiring an additional 2,556 shares during the period. Blueshift Asset Management LLC lifted its stake in Tractor Supply by 32.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 9,945 shares of the specialty retailer’s stock worth $2,893,000 after purchasing an additional 2,452 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Tractor Supply in the 2nd quarter valued at $13,353,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Tractor Supply by 48.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,801 shares of the specialty retailer’s stock valued at $2,851,000 after purchasing an additional 3,182 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

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.