Target (NYSE:TGT) Price Target Cut to $190.00 by Analysts at Cowen

Target (NYSE:TGT – Get Rating) had its price objective cut by analysts at Cowen from $265.00 to $190.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the retailer’s stock. Cowen’s price target points to a potential upside of 23.73% from the stock’s previous close.

Several other research firms have also issued reports on TGT. Raymond James dropped their price objective on shares of Target from $275.00 to $205.00 and set a “strong-buy” rating for the company in a research report on Thursday. BMO Capital Markets dropped their price objective on shares of Target from $250.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday. Evercore ISI assumed coverage on shares of Target in a research report on Friday, February 25th. They issued a “hold” rating and a $235.00 price objective for the company. Stifel Nicolaus lowered shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $270.00 to $185.00 in a research report on Wednesday. Finally, Telsey Advisory Group dropped their price objective on shares of Target from $305.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of “Buy” and a consensus price target of $226.16.

TGT stock traded down $8.05 on Thursday, hitting $153.56. 337,447 shares of the company were exchanged, compared to its average volume of 3,435,097. Target has a twelve month low of $155.20 and a twelve month high of $268.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.99 and a quick ratio of 0.35. The business’s fifty day moving average is $224.49 and its two-hundred day moving average is $227.20. The stock has a market capitalization of $71.20 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94.

Target (NYSE:TGT – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.88). Target had a return on equity of 47.35% and a net margin of 6.55%. The company had revenue of $24.83 billion for the quarter, compared to analyst estimates of $24.48 billion. During the same period last year, the company posted $3.69 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts expect that Target will post 14.61 earnings per share for the current year.

In other Target news, insider Cara A. Sylvester sold 2,030 shares of Target stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total value of $507,500.00. Following the completion of the transaction, the insider now directly owns 7,891 shares in the company, valued at $1,972,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Fiddelke sold 5,000 shares of Target stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $210.19, for a total value of $1,050,950.00. Following the completion of the transaction, the insider now owns 31,130 shares of the company’s stock, valued at $6,543,214.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,363 shares of company stock valued at $21,970,253. 0.29% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Blume Capital Management Inc. acquired a new position in shares of Target during the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC acquired a new position in shares of Target during the fourth quarter worth approximately $28,000. Delos Wealth Advisors LLC acquired a new position in shares of Target during the fourth quarter worth approximately $29,000. Founders Capital Management acquired a new position in shares of Target during the fourth quarter worth approximately $29,000. Finally, Sterling Investment Advisors Ltd. boosted its position in shares of Target by 12,500.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock worth $29,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 81.83% of the company’s stock.

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.

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