Target Corporation (TGT) Rating Lowered to Hold at Vetr Inc.
Target Corporation (NYSE:TGT) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Thursday. They currently have a $57.89 target price on the retailer’s stock. Vetr‘s price objective suggests a potential upside of 3.15% from the company’s previous close.
Other analysts have also issued research reports about the company. UBS AG reiterated a “neutral” rating and issued a $56.00 price target (down previously from $60.00) on shares of Target Corporation in a report on Tuesday, June 20th. MKM Partners boosted their price target on Target Corporation to $69.00 and gave the company a “buy” rating in a report on Thursday. Citigroup Inc. lowered Target Corporation from a “buy” rating to a “neutral” rating and boosted their price target for the company from $51.00 to $56.00 in a report on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a report on Friday, May 19th. Finally, BMO Capital Markets boosted their price target on Target Corporation from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Friday, July 14th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company. Target Corporation presently has an average rating of “Hold” and an average price target of $62.30.
Shares of Target Corporation (TGT) traded down 0.34% on Thursday, hitting $56.12. The stock had a trading volume of 15,275,188 shares. The company has a market cap of $30.96 billion, a P/E ratio of 11.50 and a beta of 0.61. The company has a 50-day moving average of $54.58 and a 200-day moving average of $56.22. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. Target Corporation’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, equities analysts anticipate that Target Corporation will post $4.44 EPS for the current fiscal year.
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In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. acquired a new stake in Target Corporation during the first quarter valued at approximately $265,000. Tompkins Financial Corp raised its stake in Target Corporation by 84.0% in the first quarter. Tompkins Financial Corp now owns 1,711 shares of the retailer’s stock valued at $141,000 after buying an additional 781 shares during the last quarter. Iowa State Bank raised its stake in Target Corporation by 3.0% in the first quarter. Iowa State Bank now owns 55,284 shares of the retailer’s stock valued at $3,051,000 after buying an additional 1,600 shares during the last quarter. Cribstone Capital Management LLC raised its stake in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock valued at $101,000 after buying an additional 1,016 shares during the last quarter. Finally, Viking Fund Management LLC raised its stake in Target Corporation by 66.7% in the first quarter. Viking Fund Management LLC now owns 30,000 shares of the retailer’s stock valued at $1,656,000 after buying an additional 12,000 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
To view Vetr’s full report, visit Vetr’s official website.
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