Barclays Cuts Tractor Supply (NASDAQ:TSCO) Price Target to $52.00

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

Several other analysts have also recently issued reports on TSCO. Gordon Haskett cut Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, October 24th. UBS Group raised their price objective on Tractor Supply from $54.40 to $56.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Benchmark raised their price target on shares of Tractor Supply from $56.00 to $62.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Citigroup lowered shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.96.

Tractor Supply Stock Down 3.1 %

NASDAQ:TSCO traded down $1.67 during mid-day trading on Monday, reaching $52.89. The company’s stock had a trading volume of 2,260,220 shares, compared to its average volume of 5,246,344. 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 has a market capitalization of $28.25 billion, a PE ratio of 5.14, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83. The stock has a fifty day moving average of $55.69 and a 200-day moving average of $55.18. Tractor Supply has a 1 year low of $42.35 and a 1 year high of $61.53.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 117,660 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $59.13, for a total transaction of $6,957,000.48. Following the transaction, the chief financial officer now owns 48,415 shares in the company, valued at approximately $2,862,682.12. This represents a 70.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Tractor Supply

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