Target (NYSE:TGT) Upgraded to Buy at Citigroup

Target (NYSE:TGT) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Briefing.com reports. The brokerage currently has a $180.00 price target on the retailer’s stock. Citigroup’s price target suggests a potential upside of 13.64% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. TheStreet upgraded shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Roth Mkm increased their target price on shares of Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, Truist Financial increased their target price on shares of Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.85.

Target Price Performance

NYSE:TGT opened at $158.40 on Tuesday. The stock has a market cap of $73.28 billion, a P/E ratio of 17.74, a PEG ratio of 1.48 and a beta of 1.17. Target has a one year low of $102.93 and a one year high of $181.86. The company has a fifty day moving average price of $166.63 and a 200 day moving average price of $145.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The business’s revenue was up 1.6% on a year-over-year basis. Analysts anticipate that Target will post 9.39 earnings per share for the current year.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,600 shares of company stock worth $8,819,598. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Target

Institutional investors have recently bought and sold shares of the business. Tower View Wealth Management LLC boosted its position in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares during the period. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target during the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in Target in the 4th quarter valued at about $29,000. Private Wealth Management Group LLC bought a new position in Target in the 4th quarter valued at about $29,000. Finally, Scarborough Advisors LLC acquired a new stake in Target during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.