Target Corporation (TGT) Price Target Cut to $50.00
Target Corporation (NYSE:TGT) had its target price cut by equities researchers at Morgan Stanley from $52.00 to $50.00 in a research report issued to clients and investors on Thursday. The firm presently has an “underweight” rating on the retailer’s stock. Morgan Stanley’s target price would indicate a potential downside of 14.00% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Vetr lowered shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.28 price objective for the company. in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. BMO Capital Markets reiterated a “market weight” rating on shares of Target Corporation in a research note on Thursday, September 14th. MKM Partners initiated coverage on shares of Target Corporation in a research note on Wednesday, October 18th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company’s stock. Target Corporation has a consensus rating of “Hold” and an average target price of $62.91.
Shares of Target Corporation (TGT) opened at $58.14 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.26 and a current ratio of 0.91. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The stock has a market cap of $30,100.00, a P/E ratio of 12.19, a PEG ratio of 5.38 and a beta of 0.63.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same quarter last year, the business posted $1.04 EPS. Target Corporation’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts expect that Target Corporation will post 4.53 earnings per share for the current year.
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In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Carnick & Kubik Group LLC bought a new position in shares of Target Corporation in the third quarter worth approximately $554,000. CAPROCK Group Inc. bought a new position in shares of Target Corporation in the third quarter worth approximately $832,000. Boston Private Wealth LLC lifted its stake in shares of Target Corporation by 4.5% in the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after buying an additional 2,285 shares in the last quarter. Conning Inc. lifted its stake in shares of Target Corporation by 2.1% in the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after buying an additional 10,966 shares in the last quarter. Finally, Patten & Patten Inc. TN bought a new position in shares of Target Corporation in the second quarter worth approximately $234,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.
About Target Corporation
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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