Target Corp. (TGT) Stock Rating Lowered by Vetr Inc.
Target Corp. (NYSE:TGT) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They presently have a $74.42 target price on the retailer’s stock. Vetr‘s price objective would suggest a potential upside of 8.45% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Target Corp. in a report on Sunday, May 22nd. Credit Suisse Group AG began coverage on shares of Target Corp. in a report on Friday, September 16th. They issued a “neutral” rating and a $65.00 price target for the company. MKM Partners reiterated a “neutral” rating and issued a $78.00 price target (up previously from $73.00) on shares of Target Corp. in a report on Tuesday, August 16th. Nomura set a $75.00 price target on shares of Target Corp. and gave the company a “hold” rating in a report on Thursday, August 18th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $86.00 price target on shares of Target Corp. in a report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. Target Corp. has a consensus rating of “Hold” and a consensus target price of $77.12.
Target Corp. (NYSE:TGT) opened at 68.62 on Monday. The company has a market cap of $39.44 billion, a P/E ratio of 12.70 and a beta of 0.68. Target Corp. has a 12-month low of $65.50 and a 12-month high of $84.14. The stock’s 50 day moving average is $71.38 and its 200-day moving average is $74.58.
Target Corp. (NYSE:TGT) last issued its earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The firm earned $16.20 billion during the quarter. During the same period in the previous year, the company posted $1.22 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts predict that Target Corp. will post $4.96 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Ropes Wealth Advisors LLC increased its stake in shares of Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock worth $107,000 after buying an additional 127 shares during the last quarter. Arcadia Investment Management Corp MI increased its stake in shares of Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock worth $119,000 after buying an additional 500 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Target Corp. by 1.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,201 shares of the retailer’s stock worth $154,000 after buying an additional 42 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Target Corp. during the first quarter worth about $165,000. Finally, Duncker Streett & Co. Inc. increased its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock worth $165,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.
About Target Corp.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
To view Vetr’s full report, visit Vetr’s official website.
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