Truist Financial Lowers Target (NYSE:TGT) Price Target to $124.00

Target (NYSE:TGT) had its target price decreased by research analysts at Truist Financial from $134.00 to $124.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the retailer’s stock. Truist Financial’s target price indicates a potential upside of 8.99% from the company’s current price.

Several other brokerages also recently weighed in on TGT. Piper Sandler reduced their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Monday. Sanford C. Bernstein boosted their target price on Target from $139.00 to $142.00 and gave the company a “market perform” rating in a research report on Tuesday, January 28th. Gordon Haskett downgraded Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Roth Mkm reissued a “neutral” rating and set a $122.00 price target (down from $131.00) on shares of Target in a research note on Wednesday. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $147.00.

Target Trading Down 2.4 %

TGT opened at $113.78 on Wednesday. Target has a 12 month low of $112.53 and a 12 month 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 stock has a 50-day moving average of $132.46 and a 200 day moving average of $141.72. The firm has a market cap of $52.13 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, research analysts forecast that Target will post 8.69 EPS for the current year.

Institutional Trading of Target

Hedge funds have recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new position in shares of Target during the 4th quarter worth approximately $118,000. Probity Advisors Inc. grew its holdings in Target by 4.3% in the fourth quarter. Probity Advisors Inc. now owns 8,711 shares of the retailer’s stock worth $1,178,000 after purchasing an additional 360 shares during the last quarter. Copley Financial Group Inc. increased its position in shares of Target by 17.8% during the fourth quarter. Copley Financial Group Inc. now owns 1,883 shares of the retailer’s stock worth $255,000 after purchasing an additional 284 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Target during the 4th quarter valued at $51,270,000. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of Target by 1.8% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 48,131 shares of the retailer’s stock worth $6,506,000 after purchasing an additional 873 shares in the last quarter. 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.