Target (TGT) Upgraded at Barclays
Barclays upgraded shares of Target (NYSE:TGT) from an underweight rating to an equal weight rating in a research note issued to investors on Friday, Marketbeat reports. Barclays currently has $70.00 target price on the retailer’s stock, up from their previous target price of $45.00.
A number of other research analysts have also recently commented on the company. Robert W. Baird restated a hold rating and set a $70.00 price objective on shares of Target in a research note on Wednesday, January 3rd. Telsey Advisory Group boosted their price objective on Target from $58.00 to $65.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. Vetr cut Target from a buy rating to a hold rating and set a $66.59 price objective on the stock. in a research note on Monday, December 18th. Sanford C. Bernstein set a $65.00 price objective on Target and gave the stock a buy rating in a research note on Thursday, December 14th. Finally, MKM Partners set a $77.00 price objective on Target and gave the stock a buy rating in a research note on Thursday, December 14th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $63.81.
Shares of Target (NYSE:TGT) traded up $2.03 during trading on Friday, reaching $69.21. The company had a trading volume of 9,032,727 shares, compared to its average volume of 6,990,000. Target has a 52-week low of $48.56 and a 52-week high of $72.08. The firm has a market capitalization of $37,630.00, a PE ratio of 14.54, a P/E/G ratio of 8.18 and a beta of 0.63. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01.
Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The firm had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. analysts predict that Target will post 4.57 EPS for the current fiscal year.
In other news, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TGT. Carlson Capital Management increased its holdings in Target by 22.9% in the fourth quarter. Carlson Capital Management now owns 12,291 shares of the retailer’s stock valued at $802,000 after buying an additional 2,289 shares during the last quarter. Chickasaw Capital Management LLC increased its holdings in Target by 63.2% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,670 shares of the retailer’s stock valued at $1,022,000 after buying an additional 6,070 shares during the last quarter. Pensionfund Sabic bought a new stake in Target in the fourth quarter valued at about $1,892,000. Pensionfund DSM Netherlands bought a new stake in Target in the fourth quarter valued at about $3,719,000. Finally, Parametric Portfolio Associates LLC increased its holdings in Target by 35.4% in the third quarter. Parametric Portfolio Associates LLC now owns 2,033,709 shares of the retailer’s stock valued at $120,009,000 after buying an additional 532,207 shares during the last quarter. 87.42% of the stock is currently owned by institutional investors and hedge funds.
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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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