Target (NYSE:TGT) Price Target Cut to $215.00

Target (NYSE:TGTGet Rating) had its target price cut by research analysts at Tigress Financial from $320.00 to $215.00 in a report released on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the retailer’s stock. Tigress Financial’s price target points to a potential upside of 31.60% from the company’s current price.

A number of other analysts have also recently issued reports on TGT. Deutsche Bank Aktiengesellschaft cut their target price on shares of Target from $227.00 to $198.00 and set a “buy” rating for the company in a research note on Wednesday, June 8th. Credit Suisse Group cut their target price on shares of Target from $286.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, May 23rd. Stifel Nicolaus cut shares of Target from a “buy” rating to a “hold” rating and cut their target price for the stock from $270.00 to $185.00 in a research note on Wednesday, May 18th. Morgan Stanley dropped their price objective on shares of Target from $255.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 8th. Finally, StockNews.com cut shares of Target from a “buy” rating to a “hold” rating in a research note on Saturday, May 28th. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.42.

Target Stock Performance

Shares of TGT opened at $163.38 on Friday. The firm has a 50-day moving average of $151.12 and a 200-day moving average of $194.79. Target has a one year low of $137.16 and a one year high of $268.98. The company has a market cap of $75.76 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14.

Target (NYSE:TGTGet Rating) last posted its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.81). The company had revenue of $24.83 billion for the quarter, compared to analyst estimates of $24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.69 EPS. As a group, equities analysts forecast that Target will post 8.7 earnings per share for the current year.

Insider Activity at Target

In related news, insider John J. Mulligan sold 45,490 shares of Target stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $139.98, for a total transaction of $6,367,690.20. Following the sale, the insider now directly owns 157,333 shares of the company’s stock, valued at approximately $22,023,473.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Target

Institutional investors have recently added to or reduced their stakes in the business. Brookstone Capital Management bought a new stake in Target during the 1st quarter worth approximately $2,453,000. CIBC World Markets Inc. grew its holdings in Target by 0.5% during the 4th quarter. CIBC World Markets Inc. now owns 23,884 shares of the retailer’s stock worth $5,528,000 after acquiring an additional 121 shares during the last quarter. First Hawaiian Bank grew its holdings in Target by 32.5% during the 1st quarter. First Hawaiian Bank now owns 13,533 shares of the retailer’s stock worth $2,872,000 after acquiring an additional 3,316 shares during the last quarter. FDx Advisors Inc. grew its holdings in Target by 12.9% during the 4th quarter. FDx Advisors Inc. now owns 22,374 shares of the retailer’s stock worth $5,178,000 after acquiring an additional 2,549 shares during the last quarter. Finally, Advisory Alpha LLC grew its holdings in Target by 8.3% during the 1st quarter. Advisory Alpha LLC now owns 1,263 shares of the retailer’s stock worth $268,000 after acquiring an additional 97 shares during the last quarter. 81.83% of the stock is owned by institutional investors.

Target Company Profile

(Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Recommended Stories

Analyst Recommendations for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.