Truist Financial Raises Target (NYSE:TGT) Price Target to $90.00

Target (NYSE:TGT) had its target price lifted by investment analysts at Truist Financial from $82.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the retailer’s stock. Truist Financial’s price objective suggests a potential downside of 4.69% from the stock’s previous close.

Several other analysts also recently issued reports on TGT. Wells Fargo & Company cut their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Baird R W downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Jefferies Financial Group lowered their target price on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Sanford C. Bernstein cut shares of Target from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $97.00 to $82.00 in a report on Monday, May 12th. Finally, Guggenheim upped their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $122.77.

Target Stock Up 1.5%

Target stock opened at $94.43 on Thursday. Target has a 52 week low of $87.35 and a 52 week high of $167.40. The stock has a market cap of $42.90 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.94 and a beta of 1.27. The company’s 50-day moving average price is $97.70 and its two-hundred day moving average price is $120.93. 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 (NYSE:TGT) last issued its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 earnings per share. On average, analysts expect that Target will post 8.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Norges Bank bought a new position in Target during the fourth quarter valued at $757,892,000. Pacer Advisors Inc. boosted its holdings in Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after buying an additional 3,065,035 shares during the period. Raymond James Financial Inc. bought a new position in shares of Target in the fourth quarter valued at approximately $297,122,000. Finally, Nuveen LLC bought a new position in shares of Target in the first quarter worth $186,361,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.