Target (NYSE:TGT) Price Target Cut to $89.00 by Analysts at Citigroup

Target (NYSE:TGT) had its price target cut by equities researchers at Citigroup from $100.00 to $89.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the retailer’s stock. Citigroup’s price objective points to a potential upside of 5.88% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group cut their target price on Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Guggenheim reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Target in a research report on Monday, October 27th. Royal Bank Of Canada decreased their target price on Target from $107.00 to $99.00 and set an “outperform” rating for the company in a research report on Thursday. BMO Capital Markets cut their price target on shares of Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, Robert W. Baird decreased their price objective on shares of Target from $100.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Target currently has an average rating of “Hold” and an average target price of $102.97.

Target Trading Down 2.4%

TGT traded down $2.02 during trading on Thursday, reaching $84.06. The company had a trading volume of 8,442,921 shares, compared to its average volume of 7,352,193. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target has a 52 week low of $83.69 and a 52 week high of $145.08. The stock has a market cap of $38.20 billion, a P/E ratio of 9.79, a PEG ratio of 2.74 and a beta of 1.19. The business has a 50 day simple moving average of $90.34 and a 200-day simple moving average of $96.02.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $25.28 billion during the quarter, compared to analyst estimates of $25.44 billion. During the same quarter last year, the business earned $1.85 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Target

A number of large investors have recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. grew its stake in shares of Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Vanguard Group Inc. boosted its holdings in Target by 14.7% during the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after buying an additional 6,607,982 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Target during the second quarter valued at $595,839,000. Norges Bank purchased a new position in Target in the second quarter valued at $578,009,000. Finally, Pacer Advisors Inc. raised its position in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after acquiring an additional 3,065,035 shares during the period. Institutional investors own 79.73% of the company’s stock.

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.