Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tractor Supply Co. shares valued at $1,114,095 were sold by Barton Kurt D on Mar 15 ’24. At $257.00 per share, Barton Kurt D sold 4,335 shares. The insider’s holdings dropped to 20,678 shares worth approximately $5.24 million following the completion of this transaction.
Also, Yankee Colin sold 8,675 shares, netting a total of over 2,168,750 in proceeds. Following the sale of shares at $250.00 each, the insider now holds 9,673 shares.
Before that, Ellison Noni L had sold 6,199 shares from its account. In a trade valued at $1,498,856, the SVP General Counsel traded Tractor Supply Co. shares for $241.79 each. Upon closing the transaction, the insider’s holdings decreased to 6,199 shares, worth approximately $1.53 million.
As published in their initiating research note from Mizuho on March 19, 2024, Tractor Supply Co. [TSCO] has been a Neutral and the price target has been revised to $245. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in early February. As of February 02, 2024, Raymond James has decreased its “Strong buy” rating to a “an Outperform” for TSCO. Earlier on January 26, 2024, Telsey Advisory Group resumed its rating. Their recommendation was “an Outperform” for TSCO stock.
Analyzing TSCO Stock Performance
During the last five days, there has been a surge of approximately 0.46%. Over the course of the year, Tractor Supply Co. shares have jumped approximately 17.80%. Shares of the company reached a 52-week high of $268.02 on 03/21/24 and a 52-week low of $211.76 on 01/03/24. A 50-day SMA is recorded $247.05, while a 200-day SMA reached $221.09. Nevertheless, trading volume fell to 0.91 million shares from 1.01 million shares the previous day.
Support And Resistance Levels for Tractor Supply Co. (TSCO)
According to the 24-hour chart, there is a support level at 248.70, which, if violated, would cause prices to drop to 244.09. In the upper region, resistance lies at 255.91. The next price resistance is at 258.51. RSI (Relative Strength Index) is 50.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.86, which suggests the price will decrease in the coming days. Percent R is at 69.04%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Tractor Supply Co. subject to short interest?
Stocks of Tractor Supply Co. saw a sharp steep in short interest on Mar 28, 2024 dropping by -2.3 million shares to 8.55 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 10.85 million shares. A decline of -26.9% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.17 of the overall float, the days-to-cover ratio (short ratio) decline to 9.17.
