Target’s Underperform Rating Reiterated at Zacks (TGT)
Target (NYSE:TGT)‘s stock had its “underperform” rating reiterated by Zacks in a report released on Thursday. They currently have a $54.00 price objective on the stock. Zacks‘s target price indicates a potential downside of 10.58% from the company’s current price.
In other Target news, Director Calvin Darden sold 4,042 shares of the company’s stock on the open market in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.28, for a total transaction of $243,651.76. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Target (NYSE:TGT) traded up 1.00% during mid-day trading on Thursday, hitting $60.995. The stock had a trading volume of 1,815,321 shares. Target has a one year low of $54.66 and a one year high of $67.25. The stock’s 50-day moving average is $59.75 and its 200-day moving average is $59.2. The company has a market cap of $38.654 billion and a P/E ratio of 25.50.
Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.02. The company had revenue of $17.00 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that Target will post $3.19 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on TGT. Analysts at MKM Partners reiterated a “neutral” rating on shares of Target in a research note on Thursday, August 21st. Separately, analysts at Telsey Advisory Group cut their price target on shares of Target from $69.00 to $66.00 in a research note on Thursday, August 21st. They now have a “not rated” rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Target from $58.00 to $61.00 in a research note on Thursday, August 21st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.62.
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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