JPMorgan Chase & Co. Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective cut by research analysts at JPMorgan Chase & Co. from $146.00 to $140.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 23.05% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Evercore ISI reduced their target price on Target from $135.00 to $130.00 and set an “in-line” rating for the company in a report on Wednesday. Stifel Nicolaus boosted their price objective on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Citigroup boosted their target price on Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Jefferies Financial Group dropped their target price on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Target has an average rating of “Hold” and an average target price of $147.00.

Target Trading Down 2.4 %

NYSE TGT opened at $113.78 on Wednesday. The stock has a market capitalization of $52.13 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.94 and a beta of 1.18. Target has a one year low of $112.53 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business’s fifty day moving average is $132.46 and its 200-day moving average is $141.72.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TGT. Legacy Investment Solutions LLC bought a new position in shares of Target during the third quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in shares of Target during the fourth quarter valued at $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target during the fourth quarter valued at $29,000. MCF Advisors LLC lifted its holdings in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

About Target

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.