UBS Group Cuts Target (NYSE:TGT) Price Target to $205.00

Target (NYSE:TGTGet Rating) had its price objective dropped by analysts at UBS Group from $225.00 to $205.00 in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage currently has a “buy” rating on the retailer’s stock. UBS Group’s price target indicates a potential upside of 31.43% from the stock’s current price.

A number of other equities research analysts have also commented on TGT. Robert W. Baird reduced their price objective on shares of Target from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI began coverage on shares of Target in a research note on Friday, February 25th. They issued a “hold” rating and a $235.00 price objective on the stock. Credit Suisse Group reduced their price objective on shares of Target from $286.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, May 23rd. StockNews.com lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Saturday, May 28th. Finally, Citigroup cut their target price on shares of Target from $274.00 to $188.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Ten analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Target presently has an average rating of “Buy” and a consensus target price of $208.00.

Shares of NYSE TGT opened at $155.98 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.14 and a current ratio of 0.87. Target has a 52-week low of $145.51 and a 52-week high of $268.98. The firm has a 50 day moving average price of $207.74 and a two-hundred day moving average price of $217.35. The stock has a market cap of $72.33 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.12 and a beta of 0.96.

Target (NYSE:TGTGet Rating) last announced its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (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 business had revenue of $24.83 billion during the quarter, compared to analyst estimates of $24.48 billion. During the same quarter last year, the company posted $3.69 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. Analysts predict that Target will post 11.08 earnings per share for the current fiscal year.

In related news, CAO Robert M. Harrison sold 2,080 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $217.87, for a total transaction of $453,169.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $216.35, for a total transaction of $6,490,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,363 shares of company stock valued at $21,970,253. 0.29% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of TGT. Norges Bank bought a new position in Target during the fourth quarter worth about $1,094,330,000. Capital World Investors boosted its position in Target by 22.9% during the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after purchasing an additional 1,666,948 shares during the period. Nordea Investment Management AB boosted its position in Target by 73.9% during the first quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock worth $414,599,000 after purchasing an additional 808,485 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Target during the fourth quarter worth about $162,042,000. Finally, Assenagon Asset Management S.A. boosted its position in Target by 1,140.3% during the first quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock worth $148,934,000 after purchasing an additional 645,209 shares during the period. Hedge funds and other institutional investors 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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