Traders Buy High Volume of Target Call Options (TGT)
Target (NYSE:TGT) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 11,627 call options on the stock, AnalystRatingsNetwork reports. This represents an increase of approximately 159% compared to the typical volume of 4,490 call options.
A number of analysts have recently weighed in on TGT shares. 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 analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $60.15.
Target (NYSE:TGT) traded up 1.20% during mid-day trading on Tuesday, hitting $59.25. 4,798,667 shares of the company’s stock traded hands. Target has a 1-year low of $54.66 and a 1-year high of $68.62. The stock’s 50-day moving average is $59. and its 200-day moving average is $58.94. The company has a market cap of $37.547 billion and a price-to-earnings ratio of 19.78.
Target (NYSE:TGT) last posted its quarterly earnings results 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 $3.49 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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