Wells Fargo & Company Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective cut by research analysts at Wells Fargo & Company from $135.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 21.95% from the stock’s previous close.

TGT has been the topic of a number of other research reports. Citigroup reissued a “neutral” rating and issued a $97.00 target price (up previously from $95.00) on shares of Target in a research report on Wednesday, May 14th. Oppenheimer lowered their price target on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays lowered their price target on Target from $140.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. JPMorgan Chase & Co. lowered their price target on Target from $140.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, DA Davidson lowered their price target on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $117.97.

Target Stock Down 0.8%

Shares of Target stock opened at $94.30 on Thursday. The business’s 50 day simple moving average is $97.28 and its 200 day simple moving average is $120.16. Target has a 52-week low of $87.35 and a 52-week high of $167.40. The firm has a market cap of $42.85 billion, a PE ratio of 10.00, a P/E/G ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same period in the prior year, the business posted $2.03 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that Target will post 8.69 earnings per share for the current fiscal year.

Institutional Trading of Target

Several institutional investors have recently added to or reduced their stakes in TGT. MCF Advisors LLC boosted its stake in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the period. Sheets Smith Wealth Management lifted its position in shares of Target by 15.7% during the 4th quarter. Sheets Smith Wealth Management now owns 1,838 shares of the retailer’s stock valued at $248,000 after acquiring an additional 250 shares during the period. XML Financial LLC lifted its position in shares of Target by 20.9% during the 4th quarter. XML Financial LLC now owns 3,026 shares of the retailer’s stock valued at $409,000 after acquiring an additional 523 shares during the period. Advisory Alpha LLC bought a new stake in shares of Target during the 4th quarter valued at $277,000. Finally, True North Advisors LLC lifted its position in shares of Target by 5.0% during the 4th quarter. True North Advisors LLC now owns 3,112 shares of the retailer’s stock valued at $421,000 after acquiring an additional 149 shares during the period. 79.73% of the stock is currently owned by 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.