Target (NYSE:TGT) Downgraded to “Market Perform” at TD Cowen

Target (NYSE:TGT) was downgraded by stock analysts at TD Cowen from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $148.00 price target on the retailer’s stock, down from their prior price target of $161.00. TD Cowen’s price target points to a potential upside of 13.44% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler cut their target price on shares of Target from $220.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, August 14th. BMO Capital Markets cut their price target on Target from $140.00 to $130.00 and set a “market perform” rating for the company in a research note on Thursday, August 17th. The Goldman Sachs Group reduced their target price on shares of Target from $185.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Bank of America upgraded Target from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $135.00 in a research note on Thursday, October 12th. Finally, Truist Financial decreased their target price on Target from $133.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, October 5th. Seventeen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $155.90.

Target Stock Up 17.8 %

TGT stock opened at $130.46 on Thursday. The stock has a market capitalization of $60.22 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.19 and a beta of 1.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.83 and a quick ratio of 0.18. Target has a 1-year low of $102.93 and a 1-year high of $181.70. The business has a fifty day moving average price of $112.56 and a 200-day moving average price of $127.71.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.63. The business had revenue of $25 billion during the quarter, compared to analyst estimates of $25.28 billion. Target had a return on equity of 29.43% and a net margin of 3.12%. Target’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 EPS. Equities analysts forecast that Target will post 7.56 earnings per share for the current fiscal year.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the sale, the insider now owns 399,669 shares of the company’s stock, valued at approximately $52,236,738.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Target

A number of institutional investors have recently modified their holdings of the business. Impact Partnership Wealth LLC purchased a new position in Target during the second quarter worth approximately $26,000. Tower View Wealth Management LLC increased its holdings in Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Sittner & Nelson LLC grew its position in shares of Target by 150.6% in the second quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock valued at $28,000 after purchasing an additional 128 shares during the period. First Capital Advisors Group LLC. acquired a new stake in Target in the 2nd quarter worth about $31,000. Finally, WFA of San Diego LLC purchased a new position in shares of Target in the second quarter valued at approximately $33,000. 78.33% of the stock is currently owned by institutional investors and hedge funds.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.