Target Corporation (TGT) Downgraded by BidaskClub to Hold
Target Corporation (NYSE:TGT) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, June 6th. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price target on the stock in a research note on Wednesday, May 10th. Buckingham Research reiterated a “buy” rating and issued a $71.00 price target on shares of Target Corporation in a research note on Wednesday, April 19th. ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a research note on Friday, May 19th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the stock. Target Corporation presently has a consensus rating of “Hold” and an average price target of $61.99.
Target Corporation (TGT) opened at 55.65 on Friday. The stock has a market cap of $30.70 billion, a P/E ratio of 11.40 and a beta of 0.61. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock has a 50 day moving average price of $54.12 and a 200-day moving average price of $56.47. Target Corporation also was the target of unusually large options trading on Wednesday. Stock traders bought 13,826 put options on the stock. This represents an increase of approximately 188% compared to the typical daily volume of 4,793 put options.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business had revenue of $16.02 billion for the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts expect that Target Corporation will post $4.39 earnings per share for the current year.
In related news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Cribstone Capital Management LLC increased its stake in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the period. Iowa State Bank increased its stake in Target Corporation by 3.0% in the first quarter. Iowa State Bank now owns 55,284 shares of the retailer’s stock worth $3,051,000 after buying an additional 1,600 shares during the period. Tompkins Financial Corp increased its stake in Target Corporation by 84.0% in the first quarter. Tompkins Financial Corp now owns 1,711 shares of the retailer’s stock worth $141,000 after buying an additional 781 shares during the period. Fox Run Management L.L.C. purchased a new stake in Target Corporation during the first quarter worth $265,000. Finally, Atria Investments LLC increased its stake in Target Corporation by 20.2% in the first quarter. Atria Investments LLC now owns 7,760 shares of the retailer’s stock worth $428,000 after buying an additional 1,305 shares during the period. 82.63% of the stock is owned by institutional investors and hedge funds.
Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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