Target (NYSE:TGT) was upgraded by stock analysts at Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a research report issued on Wednesday, January 10th, Marketbeat reports. The firm presently has a $70.00 price target on the retailer’s stock, up from their previous price target of $54.00. Susquehanna Bancshares’ target price would indicate a potential downside of 1.09% from the company’s current price.
Several other brokerages also recently issued reports on TGT. Moffett Nathanson began coverage on shares of Target in a research note on Monday, December 4th. They set a “neutral” rating on the stock. BMO Capital Markets restated a “market weight” rating on shares of Target in a report on Thursday, September 14th. Telsey Advisory Group upped their price objective on shares of Target from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Wells Fargo & Co assumed coverage on shares of Target in a report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price objective for the company. Finally, Robert W. Baird restated a “hold” rating and set a $70.00 price target on shares of Target in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $66.88.
Target (NYSE:TGT) opened at $70.77 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $38,470.00, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 3.45 and a beta of 0.75. Target has a 52 week low of $48.56 and a 52 week high of $78.70.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analysts’ expectations of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. equities research analysts predict that Target will post 4.72 EPS for the current year.
In other Target news, Director Roxanne S. Austin sold 4,705 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the sale, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock worth $1,185,484 over the last three months. 0.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Dodge & Cox increased its stake in Target by 83.3% in the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after buying an additional 9,102,526 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Target in the 2nd quarter valued at about $235,305,000. Franklin Resources Inc. grew its position in shares of Target by 8.7% in the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after acquiring an additional 1,686,774 shares during the period. American Century Companies Inc. grew its position in shares of Target by 45.1% in the 3rd quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after acquiring an additional 1,629,222 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Target by 43.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,778,242 shares of the retailer’s stock valued at $197,565,000 after acquiring an additional 1,143,598 shares during the period. Institutional investors own 87.36% of the company’s stock.
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Target Company Profile
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.
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