Mizuho Upgrades Tractor Supply (NASDAQ:TSCO) to Outperform

Tractor Supply (NASDAQ:TSCO) was upgraded by research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a $60.00 price objective on the specialty retailer’s stock, up from their previous price objective of $54.00. Mizuho’s target price indicates a potential upside of 15.54% from the stock’s previous close.

A number of other equities analysts have also weighed in on TSCO. JPMorgan Chase & Co. boosted their price objective on shares of Tractor Supply from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Evercore ISI upgraded shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th. Robert W. Baird set a $64.00 price objective on Tractor Supply in a report on Thursday, October 17th. Raymond James raised their target price on shares of Tractor Supply from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Citigroup cut shares of Tractor Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

Tractor Supply Trading Down 0.9 %

NASDAQ:TSCO opened at $51.93 on Monday. 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 stock has a fifty day simple moving average of $55.25 and a 200-day simple moving average of $55.01. Tractor Supply has a 52-week low of $42.53 and a 52-week high of $61.53. The company has a market capitalization of $27.74 billion, a PE ratio of 5.05, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in Tractor Supply by 10.8% in the second quarter. National Bank of Canada FI now owns 37,627 shares of the specialty retailer’s stock worth $10,074,000 after purchasing an additional 3,673 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Tractor Supply by 7.6% in the 2nd quarter. Private Advisor Group LLC now owns 7,656 shares of the specialty retailer’s stock valued at $2,067,000 after buying an additional 540 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Tractor Supply by 6.3% during the 2nd quarter. Lake Street Advisors Group LLC now owns 1,104 shares of the specialty retailer’s stock valued at $298,000 after buying an additional 65 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Tractor Supply in the second quarter worth about $5,044,000. Finally, Acadian Asset Management LLC acquired a new position in Tractor Supply in the second quarter valued at approximately $623,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

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.