Target (NYSE:TGT – Get 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.
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
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.
- Get a free copy of the StockNews.com research report on Target (TGT)
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