Target (NYSE:TGT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Saturday. The brokerage presently has a $88.00 target price on the retailer’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.68% from the company’s current price.
According to Zacks, “Target is trying all means to rapidly adapt to the changes in the retail ecosystem. The company’s initiatives such as the development of omni-channel capacities, diversification and localization of assortments along with emphasis on flexible format stores bode well. These efforts helped post solid holiday numbers that allowed management to lift sales and earnings view. As a result, the stock has outpaced the industry in a month. Comparable sales rose 3.4% in the combined November/December period buoyed by healthy store comps, robust traffic and sturdy digital sales. Target now expects digital sales to increase more than 25% for the fourth straight year in fiscal 2017. Further, Target now envisions comparable sales to increase approximately 3.4% during the fourth quarter with full year expected to be just over 1%. Lately, estimates are trending up ahead of the fourth quarter earnings release.”
A number of other equities analysts also recently weighed in on TGT. Deutsche Bank raised shares of Target from a “neutral” rating to a “positive” rating and raised their target price for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Stifel Nicolaus reissued a “hold” rating and set a $75.00 price target on shares of Target in a research report on Thursday, January 11th. TheStreet raised shares of Target from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. MKM Partners set a $93.00 price target on shares of Target and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price target (up previously from $65.00) on shares of Target in a research report on Wednesday, January 10th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $66.79.
Target (NYSE:TGT) last announced its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The business had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. research analysts forecast that Target will post 4.72 earnings per share for the current year.
In other Target news, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Round Table Services LLC bought a new stake in Target in the 4th quarter worth approximately $213,000. Clark Estates Inc. NY bought a new stake in Target in the 4th quarter worth approximately $1,762,000. Naples Global Advisors LLC grew its position in Target by 53.4% in the 4th quarter. Naples Global Advisors LLC now owns 13,930 shares of the retailer’s stock worth $909,000 after purchasing an additional 4,850 shares during the period. State of Alaska Department of Revenue grew its position in Target by 59.3% in the 4th quarter. State of Alaska Department of Revenue now owns 119,235 shares of the retailer’s stock worth $7,777,000 after purchasing an additional 44,384 shares during the period. Finally, Syntal Capital Partners LLC boosted its stake in shares of Target by 28.6% during the 4th quarter. Syntal Capital Partners LLC now owns 6,585 shares of the retailer’s stock worth $429,000 after acquiring an additional 1,465 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.
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Target Company Profile
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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