Target (NYSE:TGT – Get Free Report) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Thursday, FlyOnTheWall reports.
Several other research firms have also issued reports on TGT. TheStreet lowered shares of Target from a “b-” rating to a “c+” rating in a research report on Friday, June 16th. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and set a $134.00 price objective for the company. in a report on Tuesday, August 22nd. HSBC began coverage on shares of Target in a report on Friday, September 22nd. They set a “hold” rating and a $140.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Target from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Finally, Barclays dropped their price objective on shares of Target from $163.00 to $142.00 and set an “equal weight” rating for the company in a report on Friday, August 11th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.50.
Check Out Our Latest Research Report on Target
Target Stock Down 0.6 %
Shares of TGT opened at $109.01 on Thursday. The company has a 50-day simple moving average of $121.01 and a 200-day simple moving average of $136.76. The firm has a market capitalization of $50.32 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.99 and a beta of 1.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.18 and a current ratio of 0.83. Target has a 52 week low of $102.93 and a 52 week high of $181.70.
Target (NYSE:TGT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.39. Target had a net margin of 3.12% and a return on equity of 29.43%. The business had revenue of $24.77 billion during the quarter, compared to analyst estimates of $25.18 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts expect that Target will post 7.58 earnings per share for the current year.
Insider Activity
In other news, insider Brian C. Cornell sold 30,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $130.70, for a total value of $3,921,000.00. Following the completion of the transaction, the insider now owns 399,669 shares of the company’s stock, valued at approximately $52,236,738.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.
Institutional Investors Weigh In On Target
Several institutional investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC lifted its position in Target by 0.9% in the 3rd quarter. Boston Common Asset Management LLC now owns 52,068 shares of the retailer’s stock valued at $5,757,000 after acquiring an additional 462 shares in the last quarter. Insight Folios Inc lifted its position in Target by 3.5% in the 3rd quarter. Insight Folios Inc now owns 4,720 shares of the retailer’s stock valued at $522,000 after acquiring an additional 158 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Target by 27.4% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,564 shares of the retailer’s stock valued at $173,000 after acquiring an additional 336 shares in the last quarter. CVA Family Office LLC lifted its position in Target by 4.9% in the 3rd quarter. CVA Family Office LLC now owns 3,003 shares of the retailer’s stock valued at $332,000 after acquiring an additional 140 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in Target by 6.4% during the 3rd quarter. AE Wealth Management LLC now owns 62,550 shares of the retailer’s stock worth $6,916,000 after buying an additional 3,773 shares in the last quarter. 78.33% of the stock is owned by institutional investors.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.
Further Reading
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