ValuEngine Upgrades Target (TGT) to “Buy”

Target (NYSE:TGT) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other equities analysts also recently issued research reports about the company. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $66.10 price target for the company. in a research report on Wednesday, November 29th. MKM Partners set a $77.00 price target on Target and gave the stock a “buy” rating in a research report on Thursday, December 14th. Sanford C. Bernstein set a $65.00 price target on Target and gave the stock a “buy” rating in a research report on Thursday, December 14th. Barclays raised Target from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $45.00 to $70.00 in a research report on Friday, January 5th. Finally, Stifel Nicolaus dropped their price target on Target from $65.00 to $62.00 and set a “hold” rating for the company in a research report on Thursday, November 16th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $67.64.

Target (TGT) traded up $2.00 during midday trading on Tuesday, reaching $73.88. The company had a trading volume of 4,401,870 shares, compared to its average volume of 7,670,000. Target has a 12-month low of $48.56 and a 12-month high of $78.70. The stock has a market cap of $40,160.00, a P/E ratio of 15.52, a P/E/G ratio of 3.42 and a beta of 0.75. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. Target’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS. equities research analysts anticipate that Target will post 4.72 earnings per share for the current year.

In related news, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction on Tuesday, January 23rd. The stock was 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 in the company, valued at $1,320,020.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the transaction, the insider now owns 13,288 shares in the company, valued at approximately $1,019,721.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,262 shares of company stock valued at $1,185,484. Company insiders own 0.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of TGT. American Century Companies Inc. boosted its holdings in Target by 45.1% in the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after acquiring an additional 1,629,222 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in shares of Target during the third quarter worth about $65,948,000. Dimensional Fund Advisors LP lifted its stake in shares of Target by 49.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,186,874 shares of the retailer’s stock worth $188,052,000 after purchasing an additional 1,058,000 shares in the last quarter. Hamlin Capital Management LLC acquired a new position in shares of Target during the fourth quarter worth about $60,860,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Target by 9.4% during the fourth quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock worth $695,229,000 after purchasing an additional 916,178 shares in the last quarter. Hedge funds and other institutional investors own 87.85% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Target (NYSE:TGT)

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