Bank of America Lowers Target (NYSE:TGT) Price Target to $80.00

Target (NYSE:TGT) had its target price reduced by Bank of America from $93.00 to $80.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the retailer’s stock. Bank of America‘s target price would suggest a potential downside of 8.58% from the company’s previous close.

Several other research firms also recently issued reports on TGT. DA Davidson reissued a “buy” rating and issued a $108.00 price target on shares of Target in a research report on Thursday. Roth Capital reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Target in a research note on Wednesday. Sanford C. Bernstein reduced their price objective on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a report on Thursday. UBS Group decreased their target price on shares of Target from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. Finally, Jefferies Financial Group dropped their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Ten research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.97.

Target Stock Performance

Shares of Target stock opened at $87.51 on Thursday. The business has a 50-day simple moving average of $90.13 and a 200 day simple moving average of $95.88. Target has a one year low of $83.44 and a one year high of $145.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The firm has a market capitalization of $39.76 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $25.28 billion during the quarter, compared to analysts’ expectations of $25.44 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, research analysts anticipate that Target will post 8.69 earnings per share for the current fiscal year.

Institutional Trading of Target

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

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.