Piper Sandler Lowers Target (NYSE:TGT) Price Target to $124.00

Target (NYSE:TGT) had its target price lowered by equities research analysts at Piper Sandler from $132.00 to $124.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. Piper Sandler’s price objective suggests a potential upside of 8.99% from the company’s previous close.

TGT has been the subject of several other reports. Truist Financial upped their price target on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Telsey Advisory Group reduced their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $147.00.

Target Stock Down 2.4 %

Shares of TGT stock opened at $113.78 on Wednesday. The company 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. 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 company’s fifty day moving average price is $132.46 and its 200-day moving average price is $141.72. Target has a one year low of $112.53 and a one year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Sell-side analysts expect that Target will post 8.69 EPS for the current fiscal year.

Institutional Trading of Target

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its stake in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after purchasing an additional 490 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares in the last quarter. Northeast Financial Group Inc. purchased a new stake in Target in the 4th quarter valued at about $1,566,000. D.A. Davidson & CO. grew its stake in Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after acquiring an additional 9,510 shares in the last quarter. Finally, LMG Wealth Partners LLC bought a new position in Target in the 4th quarter worth about $1,438,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.