Target (NYSE:TGT) Price Target Cut to $227.00

Target (NYSE:TGTGet Rating) had its price target cut by investment analysts at Deutsche Bank Aktiengesellschaft from $294.00 to $227.00 in a report issued on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the retailer’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 47.82% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Raymond James reduced their target price on shares of Target from $290.00 to $275.00 and set a “strong-buy” rating on the stock in a report on Thursday, March 3rd. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 12th. Truist Financial lowered shares of Target from a “buy” rating to a “hold” rating and set a $261.00 target price on the stock. in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Target from $302.00 to $188.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Gordon Haskett raised shares of Target from a “hold” rating to a “buy” rating and increased their target price for the company from $255.00 to $300.00 in a report on Friday, April 8th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $226.16.

Shares of NYSE:TGT traded down $8.05 during trading on Thursday, reaching $153.56. The company had a trading volume of 337,447 shares, compared to its average volume of 3,435,097. The company has a fifty day moving average of $224.49 and a two-hundred day moving average of $227.20. The stock has a market capitalization of $71.20 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. Target has a 12 month low of $155.20 and a 12 month high of $268.98. The company has a current ratio of 0.99, a quick ratio of 0.35 and a debt-to-equity ratio of 1.06.

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

In other Target news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $216.35, for a total value of $6,490,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Cara A. Sylvester sold 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total transaction of $507,500.00. Following the sale, the insider now owns 7,891 shares of the company’s stock, valued at approximately $1,972,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,363 shares of company stock valued at $21,970,253. Company insiders own 0.29% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TGT. Blume Capital Management Inc. purchased a new position in Target during the 1st quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Target during the 4th quarter worth about $28,000. Delos Wealth Advisors LLC acquired a new stake in shares of Target during the 4th quarter worth about $29,000. Founders Capital Management acquired a new position in shares of Target in the 4th quarter valued at $29,000. Finally, Sterling Investment Advisors Ltd. boosted its position in Target by 12,500.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock worth $29,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors 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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