Evercore ISI Lowers Target (NYSE:TGT) Price Target to $130.00

Target (NYSE:TGT) had its price target lowered by equities research analysts at Evercore ISI from $135.00 to $130.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “in-line” rating on the retailer’s stock. Evercore ISI’s price target indicates a potential upside of 13.26% from the stock’s current price.

A number of other brokerages have also recently weighed in on TGT. TD Cowen lowered their price target on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Guggenheim lifted their price target on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company cut their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Piper Sandler decreased 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. Finally, Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Target has a consensus rating of “Hold” and a consensus target price of $156.07.

Target Stock Performance

Shares of Target stock traded down $2.36 on Wednesday, reaching $114.78. The stock had a trading volume of 1,486,398 shares, compared to its average volume of 5,741,656. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The business’s 50-day moving average price is $133.23 and its two-hundred day moving average price is $142.09. The stock has a market cap of $52.59 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. Target has a fifty-two week low of $112.53 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, sell-side analysts forecast that Target will post 8.69 EPS for the current year.

Institutional Investors Weigh In On Target

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Probity Advisors Inc. lifted its position in shares of Target by 4.3% during the 4th quarter. Probity Advisors Inc. now owns 8,711 shares of the retailer’s stock valued at $1,178,000 after acquiring an additional 360 shares during the period. Copley Financial Group Inc. boosted its stake in Target by 17.8% in the fourth quarter. Copley Financial Group Inc. now owns 1,883 shares of the retailer’s stock valued at $255,000 after buying an additional 284 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Target in the fourth quarter valued at about $51,270,000. Azzad Asset Management Inc. ADV raised its stake in Target by 1.8% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 48,131 shares of the retailer’s stock worth $6,506,000 after acquiring an additional 873 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its holdings in shares of Target by 148.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 42,093 shares of the retailer’s stock worth $5,690,000 after acquiring an additional 25,134 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

About Target

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.