Target (NYSE:TGT) Given New $175.00 Price Target at Barclays

Target (NYSE:TGTGet Rating) had its target price decreased by equities research analysts at Barclays from $200.00 to $175.00 in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage presently has an “overweight” rating on the retailer’s stock. Barclays‘s price target suggests a potential upside of 12.19% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a research report on Saturday, May 28th. Stifel Nicolaus downgraded Target from a “buy” rating to a “hold” rating and dropped their price objective for the company from $270.00 to $185.00 in a research report on Wednesday, May 18th. JPMorgan Chase & Co. dropped their price objective on Target from $302.00 to $188.00 and set an “overweight” rating on the stock in a research report on Thursday, May 19th. UBS Group dropped their price objective on Target to $225.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. Finally, BMO Capital Markets dropped their price objective on Target from $250.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $208.00.

Shares of Target stock opened at $155.98 on Wednesday. The firm has a market cap of $72.33 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.12 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24. Target has a 12 month low of $145.51 and a 12 month high of $268.98. The stock’s fifty day moving average price is $207.74 and its 200-day moving average price is $217.35.

Target (NYSE:TGTGet Rating) last announced its quarterly 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). Target had a net margin of 5.48% and a return on equity of 44.75%. The firm had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $24.48 billion. During the same quarter in the prior year, the business posted $3.69 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts forecast that Target will post 11.08 earnings per share for the current year.

In related news, insider Brian C. Cornell sold 30,000 shares of Target stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $216.35, for a total transaction of $6,490,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert M. Harrison sold 2,080 shares of Target stock in a transaction that occurred 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. Over the last quarter, insiders have sold 99,363 shares of company stock valued at $21,970,253. 0.29% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. FDx Advisors Inc. increased its position in shares of Target by 12.9% in the fourth quarter. FDx Advisors Inc. now owns 22,374 shares of the retailer’s stock valued at $5,178,000 after buying an additional 2,549 shares in the last quarter. London Co. of Virginia increased its position in shares of Target by 2.6% in the third quarter. London Co. of Virginia now owns 1,694,201 shares of the retailer’s stock valued at $387,582,000 after buying an additional 42,365 shares in the last quarter. Strategy Asset Managers LLC boosted its stake in shares of Target by 10.5% in the third quarter. Strategy Asset Managers LLC now owns 34,259 shares of the retailer’s stock worth $7,838,000 after acquiring an additional 3,244 shares during the last quarter. Vigilare Wealth Management boosted its stake in shares of Target by 14.3% in the fourth quarter. Vigilare Wealth Management now owns 5,736 shares of the retailer’s stock worth $1,328,000 after acquiring an additional 717 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Target by 4.3% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 100,984 shares of the retailer’s stock worth $23,371,000 after acquiring an additional 4,163 shares during the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.

About Target (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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