Target (TGT) Raised to “Market Perform” at Wolfe Research

Target (NYSE:TGT) was upgraded by analysts at Wolfe Research from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, The Fly reports.

Other research analysts also recently issued reports about the stock. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Stifel Nicolaus reissued a “hold” rating and set a $75.00 price target on shares of Target in a research note on Thursday, January 11th. Citigroup reissued a “neutral” rating and set a $80.00 price target (down from $86.00) on shares of Target in a research note on Friday, February 16th. Vetr raised shares of Target from a “buy” rating to a “strong-buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, March 21st. Finally, Robert W. Baird raised shares of Target from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $75.00 to $85.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $74.20.

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Target stock traded up $0.36 during mid-day trading on Monday, hitting $71.88. 1,019,989 shares of the company traded hands, compared to its average volume of 6,599,371. Target has a one year low of $48.56 and a one year high of $78.70. The firm has a market cap of $38,876.32, a PE ratio of 15.25, a PEG ratio of 3.01 and a beta of 0.73. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.30.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). Target had a net margin of 4.08% and a return on equity of 23.04%. The company had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. research analysts anticipate that Target will post 5.29 earnings per share for the current year.

In related news, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the transaction, the insider now directly owns 13,288 shares of the company’s stock, valued at $1,019,721.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John J. Mulligan sold 118,373 shares of Target stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the completion of the transaction, the insider now directly owns 195,906 shares in the company, valued at $13,589,999.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,930 shares of company stock worth $9,102,439. 0.20% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. SNS Financial Group LLC boosted its holdings in Target by 11.9% in the fourth quarter. SNS Financial Group LLC now owns 15,239 shares of the retailer’s stock valued at $994,000 after acquiring an additional 1,623 shares in the last quarter. Doliver Capital Advisors LP bought a new stake in shares of Target during the 4th quarter valued at $202,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Target by 3.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 81,938 shares of the retailer’s stock valued at $5,346,000 after buying an additional 2,765 shares in the last quarter. Mutual of Omaha Bank Wealth Management boosted its holdings in shares of Target by 27.4% during the 4th quarter. Mutual of Omaha Bank Wealth Management now owns 22,843 shares of the retailer’s stock valued at $1,491,000 after buying an additional 4,913 shares in the last quarter. Finally, Zeke Capital Advisors LLC boosted its holdings in shares of Target by 11.8% during the 4th quarter. Zeke Capital Advisors LLC now owns 25,293 shares of the retailer’s stock valued at $1,650,000 after buying an additional 2,672 shares in the last quarter. Institutional investors and hedge funds own 87.02% of the company’s stock.

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About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

The Fly

Analyst Recommendations for Target (NYSE:TGT)

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