Target Corporation (NYSE:TGT) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They currently have a $57.89 price target on the retailer’s stock. Vetr‘s price target indicates a potential upside of 3.15% from the stock’s current price.
A number of other analysts also recently issued reports on the company. ValuEngine downgraded Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $59.00 target price (up from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Zacks Investment Research raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Buckingham Research reissued a “buy” rating and issued a $71.00 target price on shares of Target Corporation in a research report on Wednesday, April 19th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.30.
Shares of Target Corporation (TGT) traded down 0.34% on Thursday, reaching $56.12. The company’s stock had a trading volume of 15,275,188 shares. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33. The firm’s 50 day moving average is $54.58 and its 200-day moving average is $56.22. The stock has a market cap of $30.96 billion, a P/E ratio of 11.50 and a beta of 0.61.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. During the same period last year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts forecast that Target Corporation will post $4.44 EPS for the current year.
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In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.
A number of large investors have recently modified their holdings of the company. OLD National Bancorp IN raised its stake in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock valued at $3,440,000 after buying an additional 7,547 shares during the period. ING Groep NV raised its stake in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock valued at $421,000 after buying an additional 4,071 shares during the period. Honeywell International Inc. raised its stake in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock valued at $36,707,000 after buying an additional 205,700 shares during the period. Cascade Investment Advisors Inc. raised its stake in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock valued at $1,349,000 after buying an additional 4,685 shares during the period. Finally, Tufton Capital Management raised its stake in shares of Target Corporation by 10.5% in the first quarter. Tufton Capital Management now owns 159,956 shares of the retailer’s stock valued at $8,828,000 after buying an additional 15,137 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.
About Target Corporation
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.
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