Target Sees Large Growth in Short Interest (TGT)
Target (NYSE:TGT) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 34,706,593 shares, a growth of 17.2% from the June 30th total of 29,618,841 shares, AR Network reports. Based on an average trading volume of 4,006,739 shares, the days-to-cover ratio is presently 8.7 days. Currently, 5.5% of the shares of the stock are sold short.
A number of research firms have recently commented on TGT. Analysts at Zacks downgraded shares of Target from a “neutral” rating to an “underperform” rating in a research note on Friday, July 4th. They now have a $54.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Target in a research note on Monday, June 23rd. They set an “underweight” rating and a $60.00 price target on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Target from $75.00 to $65.00 in a research note on Tuesday, June 3rd. Six analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Target has a consensus rating of “Hold” and a consensus target price of $62.65.
Shares of Target (NYSE:TGT) opened at 61.38 on Thursday. Target has a 1-year low of $54.66 and a 1-year high of $72.07. The stock has a 50-day moving average of $59.16 and a 200-day moving average of $58.9. The company has a market cap of $38.897 billion and a P/E ratio of 20.64.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.70 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.71 by $0.01. The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.02 billion. During the same quarter last year, the company posted $0.77 earnings per share. Target’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that Target will post $3.68 EPS for the current fiscal year.
Target Corporation sells a range of assortment of general merchandise and food in its stores. The Company’s general merchandise and CityTarget stores offer a food assortment on a smaller scale and its SuperTarget stores offer a line of food items comparable to traditional supermarkets.
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