Bank of America Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective reduced by stock analysts at Bank of America from $93.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the retailer’s stock. Bank of America‘s target price suggests a potential downside of 7.33% from the company’s current price.

Other analysts have also issued research reports about the company. BTIG Research began coverage on Target in a research note on Tuesday, October 14th. They set a “neutral” rating on the stock. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Jefferies Financial Group lowered their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Citigroup upped their price objective on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Finally, UBS Group lowered their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 21st. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $105.28.

Target Price Performance

Shares of TGT stock traded up $0.25 during trading hours on Thursday, hitting $86.33. The company’s stock had a trading volume of 1,879,310 shares, compared to its average volume of 7,322,069. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $90.34 and a 200-day moving average of $96.02. Target has a twelve month low of $85.30 and a twelve month high of $145.08. The stock has a market cap of $39.23 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $25.28 billion for the quarter, compared to analyst estimates of $25.44 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.Target’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities research analysts anticipate that Target will post 8.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Punch & Associates Investment Management Inc. lifted its position in shares of Target by 48.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after purchasing an additional 27,329 shares in the last quarter. Precedent Wealth Partners LLC raised its holdings in shares of Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after acquiring an additional 2,869 shares in the last quarter. PDT Partners LLC acquired a new stake in Target during the first quarter valued at $4,623,000. Mattern Capital Management LLC increased its position in Target by 7.6% in the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after purchasing an additional 5,573 shares during the last quarter. Finally, Northern Financial Advisors Inc purchased a new stake in shares of Target during the 2nd quarter worth about $370,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

About Target

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.