Royal Bank Of Canada Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price target lowered by equities research analysts at Royal Bank Of Canada from $107.00 to $99.00 in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the retailer’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 13.13% from the company’s previous close.

Other analysts have also recently issued reports about the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Jefferies Financial Group lowered their target price on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Citigroup increased their target price on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Sanford C. Bernstein cut their price target on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a report on Thursday. Finally, Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Ten research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and an average target price of $102.97.

Target Stock Performance

NYSE:TGT opened at $87.51 on Thursday. The firm has a market capitalization of $39.76 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target has a 12-month low of $83.44 and a 12-month high of $145.08. The firm has a 50-day moving average price of $90.13 and a 200 day moving average price of $95.88.

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

Hedge Funds Weigh In On Target

Large investors have recently modified their holdings of the stock. Brighton Jones LLC raised its position in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after purchasing an additional 3,059 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Target in the 1st quarter valued at $407,000. KLP Kapitalforvaltning AS raised its position in shares of Target by 1.4% during the first quarter. KLP Kapitalforvaltning AS now owns 160,109 shares of the retailer’s stock worth $16,709,000 after acquiring an additional 2,200 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Target during the first quarter valued at $1,303,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Target by 361.1% during the first quarter. Venturi Wealth Management LLC now owns 10,900 shares of the retailer’s stock valued at $1,138,000 after acquiring an additional 8,536 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.