Moffett Nathanson started coverage on shares of Target (NYSE:TGT) in a research report issued on Monday. The firm set a “neutral” rating on the retailer’s stock.
Several other brokerages have also issued reports on TGT. Zacks Investment Research lowered Target from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Vetr lowered Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price target for the company. in a report on Monday, November 20th. Morgan Stanley reduced their price target on Target from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Thursday, November 16th. Wells Fargo & Company initiated coverage on Target in a report on Friday, November 3rd. They set a “market perform” rating and a $62.00 price target for the company. Finally, Barclays set a $45.00 price target on Target and gave the company a “sell” rating in a report on Wednesday, November 15th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $63.25.
Shares of Target (TGT) traded up $2.66 during midday trading on Monday, reaching $62.17. The company’s stock had a trading volume of 2,646,793 shares, compared to its average volume of 7,420,128. Target has a 12-month low of $48.56 and a 12-month high of $78.42. The firm has a market cap of $32,348.01, a price-to-earnings ratio of 12.40, a PEG ratio of 7.36 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in TGT. Carnick & Kubik Group LLC acquired a new position in Target in the third quarter worth $554,000. CAPROCK Group Inc. acquired a new position in Target in the third quarter worth $832,000. Boston Private Wealth LLC boosted its stake in Target by 4.5% in the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after purchasing an additional 2,285 shares in the last quarter. Conning Inc. boosted its stake in Target by 2.1% in the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock worth $27,323,000 after purchasing an additional 10,966 shares in the last quarter. Finally, SignalPoint Asset Management LLC acquired a new position in Target in the third quarter worth $258,000. 87.41% of the stock is currently owned by institutional investors and hedge funds.
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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.
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