Barclays Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its target price lowered by investment analysts at Barclays from $140.00 to $102.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the retailer’s stock. Barclays‘s price target suggests a potential upside of 3.75% from the stock’s current price.

A number of other equities research analysts have also recently commented on TGT. Roth Mkm restated a “neutral” rating and issued a $122.00 price target (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Piper Sandler reduced their target price on Target from $124.00 to $105.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Oppenheimer decreased their target price on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Baird R W downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Bank of America cut their price target on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $127.29.

Target Trading Up 0.3%

NYSE TGT opened at $98.31 on Monday. The firm has a market capitalization of $44.67 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The business’s 50-day moving average price is $97.93 and its two-hundred day moving average price is $121.12. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target has a 12 month low of $87.35 and a 12 month high of $167.40.

Target (NYSE:TGT) last posted 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. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, analysts expect that Target will post 8.69 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. grew its position in Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after buying an additional 12,825,586 shares during the period. Norges Bank purchased a new position in Target in the fourth quarter valued at about $757,892,000. Pacer Advisors Inc. boosted its stake in Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after acquiring an additional 3,065,035 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Target during the 4th quarter valued at approximately $297,122,000. Finally, Nuveen LLC purchased a new stake in shares of Target during the 1st quarter worth approximately $186,361,000. 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.