Target (NYSE:TGT) Given New $190.00 Price Target at Raymond James

Posted by on Jun 8th, 2022

Target (NYSE:TGT – Get Rating) had its price target cut by research analysts at Raymond James from $205.00 to $190.00 in a report released on Wednesday, Briefing.com reports. The brokerage presently has a “strong-buy” rating on the retailer’s stock. Raymond James’ target price would suggest a potential upside of 21.81% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Bank of America cut shares of Target from a “buy” rating to a “neutral” rating and cut their price target for the stock from $235.00 to $165.00 in a research note on Wednesday. Truist Financial lowered shares of Target from a “buy” rating to a “hold” rating and set a $261.00 price objective for the company. in a report on Wednesday, May 18th. Jefferies Financial Group lowered their price objective on shares of Target from $252.00 to $168.00 and set a “hold” rating for the company in a report on Thursday, May 19th. Barclays lowered their price objective on shares of Target from $200.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Credit Suisse Group lowered their price objective on shares of Target from $286.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 23rd. Ten equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $208.00.

TGT stock opened at $155.98 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. Target has a one year low of $145.51 and a one year high of $268.98. The stock has a market cap of $72.33 billion, a PE ratio of 12.93, a P/E/G ratio of 1.12 and a beta of 0.96. The firm has a 50 day simple moving average of $207.74 and a two-hundred day simple moving average of $217.35.

Target (NYSE:TGT – Get Rating) last released its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a return on equity of 44.75% and a net margin of 5.48%. The company had revenue of $24.83 billion during the quarter, compared to analysts’ expectations of $24.48 billion. During the same period in the prior year, the firm earned $3.69 EPS. Target’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Target will post 11.08 EPS for the current fiscal year.

In related news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $216.35, for a total transaction of $6,490,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cara A. Sylvester sold 2,030 shares of the stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total transaction of $507,500.00. Following the sale, the insider now directly owns 7,891 shares in the company, valued at $1,972,750. The disclosure for this sale can be found here. Insiders sold a total of 99,363 shares of company stock worth $21,970,253 over the last ninety days. Insiders own 0.29% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Target during the 4th quarter valued at about $1,094,330,000. Capital World Investors boosted its holdings in shares of Target by 22.9% during the 4th quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock valued at $2,069,535,000 after acquiring an additional 1,666,948 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Target by 73.9% during the 1st quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock valued at $414,599,000 after acquiring an additional 808,485 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Target during the 4th quarter valued at about $162,042,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Target by 1,140.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock valued at $148,934,000 after acquiring an additional 645,209 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors.

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 décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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