Daiwa America Downgrades Target (NYSE:TGT) to Hold

Target (NYSE:TGT) was downgraded by investment analysts at Daiwa America from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 price objective on shares of Target in a research report on Monday. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $170.00 to $130.00 in a research report on Tuesday. TD Cowen reduced their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. UBS Group lifted their price objective on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $160.30.

Target Price Performance

NYSE:TGT opened at $130.11 on Tuesday. Target has a 1-year low of $120.21 and a 1-year high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $149.84 and a 200 day simple moving average of $148.92. The stock has a market capitalization of $59.94 billion, a PE ratio of 13.80, a P/E/G ratio of 2.14 and a beta of 1.24.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the prior year, the business posted $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts expect that Target will post 8.6 EPS for the current fiscal year.

Insider Buying and Selling at Target

In related news, 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 transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Target

A number of large investors have recently bought and sold shares of the stock. Synovus Financial Corp increased its stake in Target by 7.2% in the 3rd quarter. Synovus Financial Corp now owns 37,209 shares of the retailer’s stock worth $5,800,000 after purchasing an additional 2,496 shares during the period. Tidal Investments LLC increased its stake in Target by 9.4% in the 3rd quarter. Tidal Investments LLC now owns 38,774 shares of the retailer’s stock worth $6,043,000 after purchasing an additional 3,325 shares during the period. Cim Investment Management Inc. increased its stake in Target by 63.2% in the 3rd quarter. Cim Investment Management Inc. now owns 14,930 shares of the retailer’s stock worth $2,327,000 after purchasing an additional 5,779 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Target by 331.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 14,387 shares of the retailer’s stock worth $2,242,000 after purchasing an additional 11,054 shares during the period. Finally, Arvest Bank Trust Division purchased a new position in Target in the 3rd quarter worth approximately $1,684,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.