Evercore ISI Lowers Target (NYSE:TGT) Price Target to $165.00

Target (NYSE:TGT) had its price objective lowered by investment analysts at Evercore ISI from $170.00 to $165.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the retailer’s stock. Evercore ISI’s target price suggests a potential upside of 11.46% from the stock’s previous close.

A number of other analysts have also issued reports on TGT. Bank of America raised their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of Target in a research report on Thursday, September 19th. Morgan Stanley reiterated an “overweight” rating and set a $180.00 target price on shares of Target in a research report on Wednesday, August 21st. Sanford C. Bernstein began coverage on Target in a report on Tuesday. They issued a “market perform” rating and a $168.00 price target for the company. Finally, TD Cowen upped their price objective on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Target Stock Performance

Target stock opened at $148.04 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target has a fifty-two week low of $105.23 and a fifty-two week high of $181.86. The stock has a fifty day moving average of $153.07 and a two-hundred day moving average of $152.23. The company has a market capitalization of $68.49 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter in the previous year, the company posted $1.80 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Target will post 9.53 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after purchasing an additional 279,656 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Target by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after purchasing an additional 435,229 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in Target by 9.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock worth $458,131,000 after purchasing an additional 272,521 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

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.