TD Cowen Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price target lowered by equities research analysts at TD Cowen from $165.00 to $145.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the retailer’s stock. TD Cowen’s price target would indicate a potential upside of 15.99% from the company’s previous close.

Several other equities research analysts have also weighed in on TGT. Sanford C. Bernstein assumed coverage on Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price on the stock. Guggenheim dropped their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and cut their price objective for the company from $184.00 to $108.00 in a research report on Wednesday. Melius Research assumed coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price for the company. Finally, Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

Target Trading Up 2.8 %

NYSE TGT opened at $125.01 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target has a one year low of $120.21 and a one year high of $181.86. The company has a 50-day simple moving average of $151.27 and a 200-day simple moving average of $149.69. The firm has a market capitalization of $57.59 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.10 earnings per share. On average, equities analysts forecast that Target will post 9.55 earnings per share for the current year.

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last three months. Insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Several large investors have recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC purchased a new position in shares of Target during the second quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in Target during the 3rd quarter worth about $28,000. Slocum Gordon & Co LLP purchased a new position in Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Target in the 2nd quarter valued at about $31,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the period. 79.73% of the stock is 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.