Cowen Reiterates $80.00 Price Target for Target (TGT)

Target (NYSE:TGT) received a $80.00 price target from stock analysts at Cowen in a research report issued to clients and investors on Thursday. The firm presently has a “hold” rating on the retailer’s stock. Cowen’s price objective suggests a potential upside of 12.50% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Vetr raised Target from a “sell” rating to a “hold” rating and set a $72.52 target price for the company in a research report on Monday. Zacks Investment Research raised Target from a “hold” rating to a “strong-buy” rating and set a $88.00 target price for the company in a research report on Saturday, January 20th. MKM Partners set a $93.00 target price on Target and gave the stock a “buy” rating in a research report on Friday, January 12th. Stifel Nicolaus reissued a “hold” rating and issued a $75.00 target price on shares of Target in a research report on Thursday, January 11th. Finally, Deutsche Bank upgraded Target from a “neutral” rating to a “positive” rating and boosted their price target for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Target has an average rating of “Hold” and a consensus target price of $67.64.

Shares of Target (TGT) traded down $2.16 during trading hours on Thursday, reaching $71.11. The company’s stock had a trading volume of 5,710,000 shares, compared to its average volume of 7,350,000. Target has a fifty-two week low of $48.56 and a fifty-two week high of $78.70. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. The stock has a market cap of $38,650.00, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The business had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. Target’s revenue was up 1.4% on a year-over-year basis. sell-side analysts anticipate that Target will post 4.72 EPS for the current year.

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 transaction of $294,580.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total value of $234,240.00. Following the transaction, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,262 shares of company stock valued at $1,185,484. 0.25% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in TGT. Capital Research Global Investors bought a new position in shares of Target during the 2nd quarter valued at approximately $235,305,000. Prudential PLC grew its stake in shares of Target by 40.2% during the 2nd quarter. Prudential PLC now owns 238,561 shares of the retailer’s stock valued at $12,474,000 after acquiring an additional 68,442 shares during the period. Sii Investments Inc. WI grew its stake in shares of Target by 7.2% during the 2nd quarter. Sii Investments Inc. WI now owns 48,469 shares of the retailer’s stock valued at $2,530,000 after acquiring an additional 3,236 shares during the period. Macquarie Group Ltd. grew its stake in shares of Target by 5.7% during the 2nd quarter. Macquarie Group Ltd. now owns 239,331 shares of the retailer’s stock valued at $12,515,000 after acquiring an additional 12,977 shares during the period. Finally, San Francisco Sentry Investment Group CA grew its stake in shares of Target by 8.0% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 7,430 shares of the retailer’s stock valued at $388,000 after acquiring an additional 550 shares during the period. Institutional investors own 87.36% of the company’s stock.

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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.

Analyst Recommendations for Target (NYSE:TGT)

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