Target (NYSE:TGT) Price Target Cut to $120.00 by Analysts at Citigroup

Target (NYSE:TGT) had its price target cut by research analysts at Citigroup from $133.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the retailer’s stock. Citigroup’s price objective would indicate a potential upside of 4.15% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 28th. Gordon Haskett downgraded Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. StockNews.com cut Target from a “buy” rating to a “hold” rating in a report on Monday. Stifel Nicolaus dropped their price objective on Target from $145.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and cut their target price for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $153.10.

Target Price Performance

Shares of Target stock traded down $1.92 during mid-day trading on Wednesday, reaching $115.22. 2,347,201 shares of the stock were exchanged, compared to its average volume of 5,772,870. The company has a market cap of $52.80 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. Target has a fifty-two week low of $112.53 and a fifty-two week high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $133.23 and a 200 day simple moving average of $142.09.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. On average, sell-side analysts predict that Target will post 8.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TGT. Norges Bank bought a new stake in Target in the 4th quarter valued at approximately $757,892,000. State Street Corp lifted its position in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Target in the fourth quarter worth $297,122,000. Ameriprise Financial Inc. grew its position in Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after purchasing an additional 1,506,275 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after buying an additional 1,502,200 shares during the last quarter. 79.73% of the stock is 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.