Target (NYSE:TGT) Price Target Cut to $155.00

Target (NYSE:TGTGet Rating) had its price target dropped by investment analysts at Morgan Stanley from $190.00 to $155.00 in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has an “equal weight” rating on the retailer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 4.84% from the company’s current price.

Several other equities analysts have also weighed in on TGT. Cowen increased their price objective on Target to $210.00 in a report on Monday, August 22nd. Royal Bank of Canada cut their price target on Target from $231.00 to $223.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. Citigroup cut their price target on Target from $184.00 to $177.00 and set a “buy” rating for the company in a report on Thursday. MKM Partners cut their price target on Target from $163.00 to $161.00 and set a “neutral” rating for the company in a report on Thursday, August 18th. Finally, StockNews.com initiated coverage on Target in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

Target Stock Performance

TGT stock opened at $162.88 on Thursday. The business has a 50 day moving average of $159.39 and a 200-day moving average of $162.93. Target has a 12-month low of $137.16 and a 12-month high of $254.87. The firm has a market cap of $74.97 billion, a PE ratio of 22.31, a P/E/G ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 0.14, a current ratio of 0.86 and a debt-to-equity ratio of 1.29.

Target (NYSE:TGTGet Rating) last announced its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.12 by ($0.58). Target had a net margin of 3.17% and a return on equity of 30.51%. The firm had revenue of $26.12 billion for the quarter, compared to the consensus estimate of $26.40 billion. During the same period last year, the company posted $3.03 earnings per share. Target’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Target will post 8.07 earnings per share for the current year.

Insider Activity

In other news, insider John J. Mulligan sold 39,101 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the transaction, the insider now directly owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Institutional Trading of Target

Large investors have recently modified their holdings of the business. West Family Investments Inc. grew its stake in shares of Target by 18.9% in the first quarter. West Family Investments Inc. now owns 2,988 shares of the retailer’s stock worth $634,000 after purchasing an additional 476 shares during the last quarter. NewEdge Advisors LLC boosted its position in Target by 17.0% during the 1st quarter. NewEdge Advisors LLC now owns 184,821 shares of the retailer’s stock valued at $39,222,000 after acquiring an additional 26,849 shares in the last quarter. Advisory Alpha LLC boosted its position in Target by 8.3% during the 1st quarter. Advisory Alpha LLC now owns 1,263 shares of the retailer’s stock valued at $268,000 after acquiring an additional 97 shares in the last quarter. Diversified Trust Co boosted its position in Target by 6.7% during the 2nd quarter. Diversified Trust Co now owns 10,356 shares of the retailer’s stock valued at $1,463,000 after acquiring an additional 652 shares in the last quarter. Finally, Venture Visionary Partners LLC boosted its position in Target by 71.8% during the 1st quarter. Venture Visionary Partners LLC now owns 14,555 shares of the retailer’s stock valued at $3,088,000 after acquiring an additional 6,084 shares in the last quarter. 77.42% of the stock is owned by institutional investors.

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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