JPMorgan Chase & Co. Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $146.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.97% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Monday. Truist Financial increased their target price on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Telsey Advisory Group lowered their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday. Roth Mkm cut their price objective on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Finally, Stifel Nicolaus boosted their target price on Target from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $156.07.

Target Price Performance

Shares of Target stock traded down $2.36 on Wednesday, hitting $114.78. The company had a trading volume of 1,486,398 shares, compared to its average volume of 5,741,656. Target has a 52 week low of $112.53 and a 52 week high of $181.86. The company has a market cap of $52.59 billion, a PE ratio of 12.18, a PEG ratio of 1.94 and a beta of 1.15. The business has a 50-day simple moving average of $133.23 and a 200-day simple moving average of $142.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Research analysts expect that Target will post 8.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Target during the 3rd quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new position in shares of Target during the fourth quarter worth approximately $29,000. Bernard Wealth Management Corp. bought a new stake in shares of Target during the fourth quarter worth approximately $29,000. MCF Advisors LLC lifted its holdings in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares during the period. 79.73% of the stock is owned by institutional investors.

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.