Wells Fargo & Company Issues Pessimistic Forecast for Tractor Supply (NASDAQ:TSCO) Stock Price

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

Several other analysts have also issued reports on the stock. Raymond James boosted their price target on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Piper Sandler raised their price target on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. DA Davidson boosted their price objective on Tractor Supply from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush restated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research note on Friday, October 25th. Finally, Robert W. Baird set a $320.00 price target on shares of Tractor Supply in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.59.

Tractor Supply Stock Performance

Tractor Supply stock traded up $4.27 during midday trading on Monday, reaching $285.98. The stock had a trading volume of 155,426 shares, compared to its average volume of 1,046,240. The firm has a market capitalization of $30.55 billion, a PE ratio of 27.82, a P/E/G ratio of 3.53 and a beta of 0.82. Tractor Supply has a 12 month low of $197.00 and a 12 month high of $307.64. The company has a quick ratio of 0.17, a current ratio of 1.48 and a debt-to-equity ratio of 0.81. The firm’s 50-day moving average price is $284.18 and its 200 day moving average price is $275.57.

Insider Activity

In related news, CFO Kurt D. Barton sold 23,532 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was 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. This represents a 70.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Tractor Supply

Several institutional investors have recently made changes to their positions in the business. Marshall Wace LLP raised its position in Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock worth $96,451,000 after acquiring an additional 345,402 shares during the period. International Assets Investment Management LLC raised its holdings in Tractor Supply by 29,058.6% in the 3rd quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock worth $67,865,000 after purchasing an additional 232,469 shares during the period. Clearbridge Investments LLC raised its holdings in Tractor Supply by 67.4% in the 2nd quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock worth $109,002,000 after purchasing an additional 162,533 shares during the period. Wellington Management Group LLP lifted its position in Tractor Supply by 3.5% during the third quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in Tractor Supply by 1,501.1% during the third quarter. Benjamin Edwards Inc. now owns 171,050 shares of the specialty retailer’s stock valued at $49,773,000 after purchasing an additional 160,367 shares during the period. Institutional investors own 98.72% of the company’s stock.

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.