Royal Bank of Canada Cuts Target (NYSE:TGT) Price Target to $181.00

Target (NYSE:TGT) had its target price reduced by Royal Bank of Canada from $191.00 to $181.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the retailer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.63% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Gordon Haskett raised their target price on shares of Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Oppenheimer raised their price target on Target from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Guggenheim upped their price objective on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Truist Financial cut their price objective on Target from $160.00 to $153.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Tigress Financial boosted their target price on shares of Target from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus price target of $180.41.

Target Stock Performance

Shares of TGT stock opened at $145.23 on Thursday. The stock’s 50-day moving average is $164.92 and its two-hundred day moving average is $149.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.29 and a current ratio of 0.86. Target has a 1 year low of $102.93 and a 1 year high of $181.86. The firm has a market cap of $67.19 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.34 and a beta of 1.16.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The firm had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the prior year, the business earned $2.05 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts predict that Target will post 9.39 earnings per share for the current year.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Target news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at approximately $6,576,658.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock worth $8,819,598 in the last quarter. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Target in the 4th quarter valued at about $28,000. Rakuten Securities Inc. bought a new stake in Target in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new stake in Target during the fourth quarter valued at approximately $29,000. Scarborough Advisors LLC bought a new position in Target during the 4th quarter worth approximately $29,000. Finally, Godsey & Gibb Inc. lifted its holdings in Target by 148.6% during the 1st quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after buying an additional 104 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

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.