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Shares of Target (NYSE:TGT) were the recipient of some unusual options trading on Thursday. Investors purchased 11,326 put options on the stock, American Banking News reports. This is an increase of 162% compared to the average daily volume of 4,322 put options.

TGT has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Target in a research note on Wednesday, August 6th. They now have a $60.00 price target on the stock, down previously from $62.00. Separately, analysts at Morgan Stanley cut their price target on shares of Target from $60.00 to $58.00 in a research note on Wednesday, August 6th. Finally, analysts at Deutsche Bank cut their price target on shares of Target from $58.00 to $57.00 in a research note on Wednesday, August 6th. They now have a “hold” rating on the stock. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $60.15.

Target (NYSE:TGT) traded up 0.82% during mid-day trading on Thursday, hitting $58.74. 3,144,407 shares of the company’s stock traded hands. Target has a 52 week low of $54.66 and a 52 week high of $69.50. The stock’s 50-day moving average is $59.42 and its 200-day moving average is $58.90. The company has a market cap of $37.224 billion and a P/E ratio of 19.68.

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. On average, analysts predict that Target will post $3.51 earnings per share 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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