Target (NYSE:TGT) Downgraded to Sell at Vetr

Target (NYSE:TGT) was downgraded by Vetr from a “hold” rating to a “sell” rating in a research note issued on Thursday, January 11th. They currently have a $70.45 price objective on the retailer’s stock. Vetr‘s target price points to a potential downside of 0.45% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley lowered their price objective on Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, November 16th. Barclays set a $45.00 price objective on Target and gave the company a “sell” rating in a research note on Wednesday, November 15th. Deutsche Bank upgraded Target from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Finally, MKM Partners set a $77.00 price objective on Target and gave the company a “buy” rating in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.88.

Target (TGT) opened at $70.77 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The company has a market capitalization of $39,653.63, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 3.45 and a beta of 0.76. Target has a 12 month low of $48.56 and a 12 month high of $78.70.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The business had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. During the same period in the previous year, the firm earned $1.04 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. equities analysts predict that Target will post 4.72 earnings per share for the current fiscal year.

In other news, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock valued at $1,185,484 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fiera Capital Corp boosted its stake in Target by 0.4% during the second quarter. Fiera Capital Corp now owns 4,888 shares of the retailer’s stock valued at $256,000 after buying an additional 19 shares during the last quarter. WealthTrust Fairport LLC boosted its stake in Target by 1.6% during the second quarter. WealthTrust Fairport LLC now owns 6,051 shares of the retailer’s stock valued at $316,000 after buying an additional 93 shares during the last quarter. Security National Bank of Sioux City Iowa IA boosted its stake in Target by 0.8% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,341 shares of the retailer’s stock valued at $698,000 after buying an additional 102 shares during the last quarter. Hugh Johnson Advisors LLC boosted its stake in Target by 2.0% during the second quarter. Hugh Johnson Advisors LLC now owns 5,673 shares of the retailer’s stock valued at $297,000 after buying an additional 109 shares during the last quarter. Finally, Cheviot Value Management LLC boosted its stake in Target by 1.5% during the second quarter. Cheviot Value Management LLC now owns 8,483 shares of the retailer’s stock valued at $444,000 after buying an additional 126 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

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About Target

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Target (NYSE:TGT)

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