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

Tractor Supply (NASDAQ:TSCO) had its price objective upped by Bank of America from $44.00 to $53.00 in a research report released on Thursday,Benzinga reports. Bank of America currently has an underperform rating on the specialty retailer’s stock.

Several other research analysts have also weighed in on the company. DA Davidson lifted their target price on Tractor Supply from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Benchmark increased their target price on Tractor Supply from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Evercore ISI raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price objective on shares of Tractor Supply in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.01.

Tractor Supply Trading Up 0.2 %

TSCO opened at $53.66 on Thursday. The firm’s fifty day moving average is $55.02 and its two-hundred day moving average is $54.98. The firm has a market cap of $28.67 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 3.09 and a beta of 0.84. Tractor Supply has a twelve month low of $44.35 and a twelve month high of $61.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.22 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.88 annualized dividend and a dividend yield of 1.64%. Tractor Supply’s dividend payout ratio is presently 42.80%.

Institutional Trading of Tractor Supply

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. increased its stake in shares of Tractor Supply by 3.2% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer’s stock worth $328,000 after purchasing an additional 35 shares during the last quarter. Private Advisor Group LLC increased its position in Tractor Supply by 0.5% during the third quarter. Private Advisor Group LLC now owns 7,693 shares of the specialty retailer’s stock worth $2,238,000 after buying an additional 37 shares during the last quarter. Baldwin Investment Management LLC raised its stake in Tractor Supply by 0.3% in the third quarter. Baldwin Investment Management LLC now owns 11,402 shares of the specialty retailer’s stock valued at $3,317,000 after buying an additional 38 shares during the period. TCI Wealth Advisors Inc. raised its stake in Tractor Supply by 5.1% in the third quarter. TCI Wealth Advisors Inc. now owns 846 shares of the specialty retailer’s stock valued at $246,000 after buying an additional 41 shares during the period. Finally, Huntington National Bank lifted its position in shares of Tractor Supply by 0.7% in the third quarter. Huntington National Bank now owns 5,538 shares of the specialty retailer’s stock valued at $1,611,000 after buying an additional 41 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.