Target (NYSE:TGT) Price Target Cut to $145.00 by Analysts at Bank of America

Target (NYSE:TGT) had its price target dropped by research analysts at Bank of America from $160.00 to $145.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the retailer’s stock. Bank of America‘s price target indicates a potential upside of 25.43% from the company’s current price.

A number of other equities research analysts also recently commented on TGT. Jefferies Financial Group decreased their target price on Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday. Guggenheim lifted their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. StockNews.com lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Monday. TD Cowen reduced their target price on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Finally, Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and an average price target of $150.23.

Target Stock Performance

NYSE:TGT traded down $1.54 during trading hours on Wednesday, hitting $115.60. 3,412,430 shares of the company were exchanged, compared to its average volume of 5,799,207. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target has a 52-week low of $112.53 and a 52-week high of $181.86. The stock has a market capitalization of $52.97 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.94 and a beta of 1.15. The company’s 50 day moving average price is $133.23 and its 200-day moving average price is $142.09.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, research analysts forecast that Target will post 8.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the last quarter. Northeast Financial Group Inc. acquired a new stake in shares of Target in the fourth quarter valued at approximately $1,566,000. D.A. Davidson & CO. lifted its position in Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after buying an additional 9,510 shares in the last quarter. Finally, LMG Wealth Partners LLC acquired a new position in Target during the fourth quarter worth $1,438,000. Hedge funds and other 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.