Target (NYSE:TGT) PT Raised to $135.00

Target (NYSE:TGT) had its price target hoisted by stock analysts at Robert W. Baird from $120.00 to $135.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the retailer’s stock. Robert W. Baird’s target price would suggest a potential upside of 14.90% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Deutsche Bank boosted their price target on shares of Target from $121.00 to $131.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets reissued a “buy” rating and issued a $125.00 price target on shares of Target in a research note on Wednesday. Nomura Instinet lifted their price target on Target from $121.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America lifted their price target on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Cowen reissued a “buy” rating and issued a $150.00 price target on shares of Target in a research note on Wednesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $128.21.

Target stock traded down $1.19 during midday trading on Thursday, hitting $117.49. The company’s stock had a trading volume of 4,835,356 shares, compared to its average volume of 5,780,963. The company has a quick ratio of 0.27, a current ratio of 1.01 and a debt-to-equity ratio of 1.46. The stock’s 50-day moving average price is $109.72 and its 200-day moving average price is $114.20. Target has a 12 month low of $76.86 and a 12 month high of $130.24. The company has a market capitalization of $59.32 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 EPS for the quarter, topping the consensus estimate of $0.40 by $0.19. Target had a net margin of 3.46% and a return on equity of 24.17%. The firm had revenue of $19.37 billion for the quarter, compared to analysts’ expectations of $19.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. Target’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that Target will post 4.62 EPS for the current year.

In related news, CAO Robert M. Harrison sold 464 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $107.67, for a total value of $49,958.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Cornell sold 110,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $120.00, for a total value of $13,200,000.00. Following the completion of the sale, the insider now directly owns 208,502 shares of the company’s stock, valued at approximately $25,020,240. The disclosure for this sale can be found here. In the last three months, insiders sold 111,095 shares of company stock valued at $13,314,321. 0.24% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RFG Advisory LLC lifted its holdings in Target by 80.7% in the 4th quarter. RFG Advisory LLC now owns 8,117 shares of the retailer’s stock worth $1,041,000 after purchasing an additional 3,626 shares during the last quarter. Clarius Group LLC lifted its holdings in Target by 3.4% in the 4th quarter. Clarius Group LLC now owns 3,692 shares of the retailer’s stock worth $432,000 after purchasing an additional 121 shares during the last quarter. Savior LLC acquired a new stake in Target in the 4th quarter worth approximately $66,000. Davis R M Inc. lifted its holdings in Target by 10.4% in the 4th quarter. Davis R M Inc. now owns 2,125 shares of the retailer’s stock worth $272,000 after purchasing an additional 200 shares during the last quarter. Finally, Executive Wealth Management LLC acquired a new stake in Target in the 4th quarter worth approximately $535,000. 80.49% of the stock is owned by institutional investors and hedge funds.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Analyst Recommendations for Target (NYSE:TGT)

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