Guggenheim Raises Target (NYSE:TGT) Price Target to $155.00

Target (NYSE:TGT) had its price target hoisted by equities research analysts at Guggenheim from $145.00 to $155.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the retailer’s stock. Guggenheim’s target price would suggest a potential upside of 13.51% from the stock’s current price.

Several other equities research analysts also recently issued reports on TGT. Stifel Nicolaus boosted their price objective on shares of Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Sanford C. Bernstein began coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target for the company. Piper Sandler reduced their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and reduced their target price for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Finally, Evercore ISI reduced their target price on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $158.57.

Target Price Performance

Shares of NYSE:TGT traded down $0.79 on Wednesday, reaching $136.55. 350,350 shares of the company were exchanged, compared to its average volume of 4,912,273. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target has a 1-year low of $120.21 and a 1-year high of $181.86. The firm has a market cap of $62.57 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The company has a 50-day moving average of $135.37 and a 200-day moving average of $145.01.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same period in the previous year, the company posted $2.10 earnings per share. Target’s revenue was up .9% on a year-over-year basis. Equities analysts forecast that Target will post 8.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Target

Several institutional investors have recently bought and sold shares of TGT. Cynosure Group LLC increased its stake in shares of Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the period. Financial Advocates Investment Management increased its stake in shares of Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares during the period. Hancock Whitney Corp increased its stake in shares of Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the period. Trust Co. of Vermont increased its stake in shares of Target by 0.4% in the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares during the period. Finally, Eagle Bluffs Wealth Management LLC increased its stake in shares of Target by 1.1% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after purchasing an additional 73 shares during the period. 79.73% of the stock is currently owned by institutional investors.

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.