Evercore ISI Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price target dropped by analysts at Evercore ISI from $165.00 to $130.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the retailer’s stock. Evercore ISI’s price objective indicates a potential upside of 3.99% from the company’s current price.

Several other research firms have also recently commented on TGT. StockNews.com cut Target from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer lowered their price target on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. BMO Capital Markets reduced their price objective on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday. Truist Financial raised their target price on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.13.

Target Price Performance

Shares of TGT opened at $125.01 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The company has a market cap of $57.59 billion, a P/E ratio of 12.91, a PEG ratio of 2.03 and a beta of 1.24. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The stock has a fifty day moving average price of $151.27 and a 200 day moving average price of $149.69.

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

Insiders Place Their Bets

In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 12.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Target

Institutional investors have recently bought and sold shares of the company. Westside Investment Management Inc. raised its stake in shares of Target by 5.6% during the 3rd quarter. Westside Investment Management Inc. now owns 1,684 shares of the retailer’s stock worth $257,000 after purchasing an additional 90 shares in the last quarter. Invst LLC raised its position in Target by 2.4% during the third quarter. Invst LLC now owns 11,760 shares of the retailer’s stock valued at $1,833,000 after acquiring an additional 276 shares in the last quarter. Soltis Investment Advisors LLC acquired a new stake in Target in the third quarter valued at approximately $326,000. Rehmann Capital Advisory Group grew its position in Target by 234.3% in the third quarter. Rehmann Capital Advisory Group now owns 7,237 shares of the retailer’s stock worth $1,159,000 after acquiring an additional 5,072 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Target by 4.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 8,140 shares of the retailer’s stock worth $1,269,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds 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.