Mizuho Upgrades Tractor Supply (NASDAQ:TSCO) to “Outperform”

Tractor Supply (NASDAQ:TSCO) was upgraded by Mizuho from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, Marketbeat Ratings 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 suggests a potential upside of 11.38% from the company’s current price.

Several other research analysts also recently commented on TSCO. Wedbush restated a “neutral” rating and set a $54.00 price objective on shares of Tractor Supply in a research report on Friday, October 25th. Loop Capital upped their price objective on Tractor Supply from $53.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Raymond James raised their price objective on Tractor Supply from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Evercore ISI raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th. Finally, DA Davidson raised their price target on shares of Tractor Supply from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $58.25.

Tractor Supply Price Performance

TSCO stock opened at $53.87 on Monday. The company’s 50-day moving average price is $55.25 and its two-hundred day moving average price is $54.98. The firm has a market cap of $28.78 billion, a P/E ratio of 5.24, a P/E/G ratio of 3.58 and a beta of 0.84. The company has a quick ratio of 0.17, a current ratio of 1.48 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 large investors have recently bought and sold shares of the business. National Bank of Canada FI grew its stake in Tractor Supply by 10.8% during 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 increased its stake 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 acquiring an additional 540 shares in the last quarter. Lake Street Advisors Group LLC lifted 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 acquiring an additional 65 shares during the period. Strategic Financial Concepts LLC bought a new position in Tractor Supply during the second quarter worth $5,044,000. Finally, Acadian Asset Management LLC acquired a new stake in Tractor Supply in the second quarter worth $623,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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.