Bank of America Lowers Target (NYSE:TGT) to Neutral

Target (NYSE:TGTGet Rating) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a report issued on Wednesday, The Fly reports. They currently have a $165.00 price target on the retailer’s stock, down from their prior price target of $235.00. Bank of America‘s price objective indicates a potential upside of 5.78% from the company’s previous close.

Other analysts have also issued reports about the company. Stifel Nicolaus lowered Target from a “buy” rating to a “hold” rating and dropped their target price for the stock from $270.00 to $185.00 in a report on Wednesday, May 18th. UBS Group dropped their target price on Target to $225.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. JPMorgan Chase & Co. dropped their target price on Target from $302.00 to $188.00 and set an “overweight” rating on the stock in a report on Thursday, May 19th. Jefferies Financial Group dropped their price objective on Target from $252.00 to $168.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Finally, Cowen dropped their price objective on Target from $265.00 to $190.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Twelve investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $214.92.

Shares of TGT stock opened at $155.98 on Wednesday. The stock’s 50-day simple moving average is $207.74 and its 200-day simple moving average is $217.35. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.14 and a current ratio of 0.87. The firm has a market capitalization of $72.33 billion, a PE ratio of 12.93, a P/E/G ratio of 1.13 and a beta of 0.96. Target has a fifty-two week low of $145.51 and a fifty-two week high of $268.98.

Target (NYSE:TGTGet Rating) last posted its earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.88). The company had revenue of $24.83 billion for the quarter, compared to analyst estimates of $24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $3.69 earnings per share. Sell-side analysts forecast that Target will post 11.08 earnings per share for the current year.

In other Target news, insider Cara A. Sylvester sold 2,030 shares of Target stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total value of $507,500.00. Following the sale, the insider now owns 7,891 shares in the company, valued at $1,972,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert M. Harrison sold 2,080 shares of Target stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $217.87, for a total value of $453,169.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,363 shares of company stock worth $21,970,253. 0.29% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Blume Capital Management Inc. purchased a new stake in Target in the first quarter valued at $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Target in the fourth quarter valued at $28,000. Delos Wealth Advisors LLC acquired a new stake in shares of Target in the fourth quarter valued at $29,000. Founders Capital Management acquired a new stake in shares of Target in the fourth quarter valued at $29,000. Finally, Sterling Investment Advisors Ltd. grew its stake in shares of Target by 12,500.0% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock valued at $29,000 after buying an additional 125 shares in the last quarter. Institutional investors own 81.83% of the company’s stock.

Target Company Profile (Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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