Target (NYSE:TGT) was upgraded by analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, Marketbeat reports. The firm currently has a $70.00 target price on the retailer’s stock, up from their previous target price of $45.00. Barclays’ price target suggests a potential upside of 5.18% from the stock’s previous close.
Several other research firms have also issued reports on TGT. Moffett Nathanson initiated coverage on Target in a research report on Monday, December 4th. They set a “neutral” rating for the company. BMO Capital Markets restated a “market weight” rating on shares of Target in a research report on Thursday, September 14th. Telsey Advisory Group boosted their target price on Target from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Co initiated coverage on Target in a research report on Friday, November 3rd. They set a “market perform” rating and a $62.00 target price for the company. Finally, Robert W. Baird restated a “hold” rating and set a $70.00 target price on shares of Target in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $63.81.
Shares of Target (NYSE TGT) traded up $0.70 during trading hours on Friday, reaching $66.55. The company’s stock had a trading volume of 5,485,034 shares, compared to its average volume of 6,830,000. The company has a market cap of $36,170.00, a PE ratio of 13.98, a P/E/G ratio of 8.11 and a beta of 0.63. Target has a 12-month low of $48.56 and a 12-month high of $72.23. 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 related news, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Dodge & Cox boosted its position in Target by 83.3% during the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after acquiring an additional 9,102,526 shares during the last quarter. Capital Research Global Investors acquired a new position in Target during the 2nd quarter worth approximately $235,305,000. Franklin Resources Inc. boosted its position in Target by 8.7% during the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after acquiring an additional 1,686,774 shares during the last quarter. American Century Companies Inc. boosted its position in Target by 45.1% during the 3rd quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock worth $309,101,000 after acquiring an additional 1,629,222 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Target by 43.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,778,242 shares of the retailer’s stock worth $197,565,000 after acquiring an additional 1,143,598 shares during the last quarter. Institutional investors and hedge funds own 87.41% of the company’s stock.
About Target
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.
