Target (NYSE:TGT) Stock Rating Upgraded by Wells Fargo & Company

Target (NYSE:TGTGet Rating) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat reports. The firm currently has a $195.00 price objective on the retailer’s stock, up from their previous price objective of $155.00. Wells Fargo & Company‘s price target indicates a potential upside of 19.28% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Telsey Advisory Group lowered their price target on shares of Target from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 8th. UBS Group decreased their price objective on shares of Target from $225.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Stifel Nicolaus downgraded shares of Target from a “buy” rating to a “hold” rating and decreased their price objective for the company from $270.00 to $185.00 in a research report on Wednesday, May 18th. Tigress Financial decreased their price objective on shares of Target from $320.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Finally, TheStreet downgraded shares of Target from a “b-” rating to a “c+” rating in a research report on Friday, June 24th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $189.08.

Target Stock Down 1.3 %

Shares of TGT stock opened at $163.48 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24. Target has a 1 year low of $137.16 and a 1 year high of $268.98. The firm’s fifty day moving average price is $151.62 and its two-hundred day moving average price is $193.75. The firm has a market capitalization of $75.81 billion, a P/E ratio of 13.56, a PEG ratio of 1.84 and a beta of 1.03.

Target (NYSE:TGTGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.81). Target had a net margin of 5.48% and a return on equity of 44.75%. The business had revenue of $24.83 billion during the quarter, compared to analyst estimates of $24.48 billion. During the same quarter in the previous year, the firm posted $3.69 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Target will post 8.67 EPS for the current fiscal year.

Insider Buying and Selling at Target

In other Target news, insider John J. Mulligan sold 45,490 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $139.98, for a total value of $6,367,690.20. Following the completion of the sale, the insider now owns 157,333 shares of the company’s stock, valued at approximately $22,023,473.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Target

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Target by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 43,254,086 shares of the retailer’s stock valued at $9,179,381,000 after buying an additional 589,926 shares in the last quarter. State Street Corp increased its position in Target by 0.5% during the 4th quarter. State Street Corp now owns 35,922,818 shares of the retailer’s stock worth $8,313,977,000 after purchasing an additional 191,484 shares in the last quarter. Capital World Investors increased its position in Target by 22.9% during the 4th quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after purchasing an additional 1,666,948 shares in the last quarter. Geode Capital Management LLC increased its position in Target by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,187,017 shares of the retailer’s stock worth $1,890,357,000 after purchasing an additional 157,019 shares in the last quarter. Finally, Norges Bank acquired a new position in Target during the 4th quarter worth approximately $1,094,330,000. 81.83% of the stock is currently owned by institutional investors and hedge funds.

About Target

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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.

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Analyst Recommendations for Target (NYSE:TGT)

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