The Goldman Sachs Group Downgrades Target (NYSE:TGT) to Neutral

Target (NYSE:TGT) was downgraded by research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $101.00 price objective on the retailer’s stock, down from their previous price objective of $142.00. The Goldman Sachs Group’s target price suggests a potential upside of 8.45% from the company’s previous close.

TGT has been the subject of a number of other reports. Mizuho began coverage on Target in a research report on Friday, April 11th. They issued a “neutral” rating and a $92.00 price objective for the company. Roth Mkm reissued a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Citigroup decreased their price target on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company cut their price objective on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, UBS Group reduced their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Target presently has a consensus rating of “Hold” and an average target price of $132.37.

Target Stock Up 2.9 %

NYSE:TGT opened at $93.13 on Wednesday. The company has a market cap of $42.43 billion, a PE ratio of 9.88, a P/E/G ratio of 1.94 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $109.77 and its two-hundred day moving average is $130.28. Target has a twelve month low of $87.35 and a twelve month high of $169.09.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Analysts anticipate that Target will post 8.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. purchased a new position in shares of Target during the 4th quarter worth approximately $29,000. Bernard Wealth Management Corp. purchased a new position in Target in the fourth quarter valued at approximately $29,000. MCF Advisors LLC increased its holdings in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, Legacy Investment Solutions LLC grew its holdings in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.