Piper Sandler research analysts have launched a hedge on the shares of Target (NYSE: TGT – Get a rating) in a note released Friday to investors, Fly reports. The firm has set a “neutral” rating and a price target of $190.00 on the retailer’s stock. Piper Sandler’s price target suggests a potential upside of 20.45% from the company’s previous close.
Several other research firms have also recently weighed in on TGT. Robert W. Baird cut his price target on Target from $195.00 to $180.00 and set an “outperform” rating on the stock in a Wednesday, June 8 report. Stifel Nicolaus downgraded Target from a “buy” rating to a “hold” rating and reduced its target price for the company from $270.00 to $185.00 in a Wednesday, May 18 research note. Jefferies Financial Group cut its target price on Target from $252.00 to $168.00 and placed a “hold” rating on the stock in a Thursday, May 19 research note. Truist Financial cut its target price on Target from $171.00 to $150.00 and placed a “hold” rating on the stock in a Wednesday, June 8 research note. Finally, Bank of America downgraded Target from a “buy” rating to a “neutral” rating and reduced its target price for the company from $235.00 to $165.00 in a Wednesday, June 8 research note. . Ten investment analysts have assigned the stock a hold rating, sixteen have issued a buy rating and one has assigned the company’s stock a strong buy rating. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and a consensus target price of $192.92.
Exchange target down 0.6%
NYSE: TGT opened at $157.74 on Friday. Target has a fifty-two week low of $137.16 and a fifty-two week high of $268.98. The company has a debt ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. The stock has a market capitalization of $73.14 billion, a PE ratio of 13.08, a growth price-earnings ratio of 1.78 and a beta of 1.00. The company’s 50-day simple moving average is $153.48 and its 200-day simple moving average is $197.28.
Target (NYSE: TGT – Get a rating) last released its quarterly earnings data on Wednesday, May 18. The retailer reported earnings per share of $2.19 for the quarter, missing the consensus estimate of $3.00 per ($0.81). Target had a net margin of 5.48% and a return on equity of 44.75%. The company posted revenue of $24.83 billion for the quarter, versus a consensus estimate of $24.48 billion. In the same quarter last year, the company achieved EPS of $3.69. The company’s revenue for the quarter increased 4.0% year over year. Sell-side analysts expect Target to post earnings per share of 8.7 for the current fiscal year.
Insider buying and selling
In related news, insider John J. Mulligan sold 45,490 shares of the company in a transaction that took place on Friday, June 17. The stock was sold at an average price of $139.98, for a total transaction of $6,367,690.20. Following the transaction, the insider now directly owns 157,333 shares of the company, valued at approximately $22,023,473.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. 0.29% of the shares are held by insiders.
Institutional entries and exits
A number of institutional investors and hedge funds have recently increased or reduced their stake in TGT. Landmark Wealth Management LLC acquired a new position in Target in Q1 worth $25,000. Blume Capital Management Inc. acquired a new position in Target in Q1 worth $25,000. Industrial Alliance Investment Management Inc. acquired a new position in Target in Q4 worth $27,000. Sterling Investment Advisors Ltd. increased its stake in Target by 12,500.0% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer valued at $29,000 after buying an additional 125 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new position in Target in Q4 worth $29,000. 81.83% of the shares are held by institutional investors and hedge funds.
Target company profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry groceries, dairy products and frozen products. clothing, accessories, home decor products, electronics, toys, seasonal offers, food and other merchandise; and beauty and household products.
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