Argus Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its target price reduced by investment analysts at Argus from $135.00 to $125.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the retailer’s stock. Argus’ price target suggests a potential upside of 38.17% from the stock’s current price.

Several other analysts also recently weighed in on TGT. Sanford C. Bernstein dropped their target price on shares of Target from $87.00 to $80.00 and set an “underperform” rating on the stock in a research report on Thursday, November 20th. Zacks Research lowered shares of Target from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Royal Bank Of Canada cut their target price on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Truist Financial raised their target price on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, November 20th. Finally, Piper Sandler reiterated a “neutral” rating and set a $85.00 price target (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. Eleven analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $102.79.

Target Stock Down 1.0%

Shares of TGT stock opened at $90.47 on Monday. The stock’s fifty day moving average price is $90.23 and its 200 day moving average price is $95.48. Target has a 1-year low of $83.44 and a 1-year high of $145.08. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a return on equity of 23.43% and a net margin of 3.72%.The company had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same period last year, the business posted $1.85 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, research analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Institutional Trading of Target

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. raised its holdings in Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after purchasing an additional 27,329 shares in the last quarter. Precedent Wealth Partners LLC grew its position in shares of Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after buying an additional 2,869 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Target in the 1st quarter valued at $4,623,000. Mattern Capital Management LLC raised its stake in Target by 7.6% during the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after acquiring an additional 5,573 shares in the last quarter. Finally, Northern Financial Advisors Inc purchased a new stake in Target in the second quarter valued at $370,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.