Evercore ISI Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective lowered by stock analysts at Evercore ISI from $100.00 to $95.00 in a research report issued on Monday. The brokerage presently has an “in-line” rating on the retailer’s stock. Evercore ISI’s target price indicates a potential upside of 7.01% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $110.00 price target on shares of Target in a report on Friday, November 14th. BTIG Research assumed coverage on shares of Target in a research note on Tuesday, October 14th. They issued a “neutral” rating for the company. Royal Bank Of Canada lifted their target price on shares of Target from $104.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Zacks Research cut shares of Target from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Piper Sandler restated a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $108.55.

Target Price Performance

Shares of TGT opened at $88.78 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target has a fifty-two week low of $85.36 and a fifty-two week high of $158.42. The firm has a 50-day simple moving average of $90.43 and a 200-day simple moving average of $96.09. The company has a market capitalization of $40.34 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the prior year, the business earned $2.57 EPS. The firm’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that Target will post 8.69 earnings per share for the current year.

Hedge Funds Weigh In On Target

Hedge funds have recently bought and sold shares of the company. Punch & Associates Investment Management Inc. lifted its stake in shares of Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after buying an additional 27,329 shares during the period. Precedent Wealth Partners LLC grew its stake in Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock worth $1,303,000 after acquiring an additional 2,869 shares during the period. PDT Partners LLC acquired a new position in Target in the 1st quarter valued at $4,623,000. Mattern Capital Management LLC raised its holdings in Target by 7.6% in the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after acquiring an additional 5,573 shares during the last quarter. Finally, Northern Financial Advisors Inc purchased a new position in shares of Target during the 2nd quarter worth $370,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

About Target

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.