Target (NYSE:TGT) Given New $145.00 Price Target at Guggenheim

Target (NYSE:TGT) had its price objective lowered by research analysts at Guggenheim from $180.00 to $145.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the retailer’s stock. Guggenheim’s price objective suggests a potential upside of 15.99% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup lowered shares of Target from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $188.00 to $130.00 in a report on Wednesday. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a report on Wednesday. Melius Research started coverage on Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

Target Stock Performance

NYSE:TGT opened at $125.01 on Thursday. The firm has a market capitalization of $57.59 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Target has a 12-month low of $120.21 and a 12-month high of $181.86. The firm has a 50-day moving average price of $151.27 and a 200 day moving average price of $149.69.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter last year, the business earned $2.10 EPS. Target’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts anticipate that Target will post 9.55 earnings per share for the current fiscal year.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Westside Investment Management Inc. grew its holdings in shares of Target by 5.6% during the 3rd quarter. Westside Investment Management Inc. now owns 1,684 shares of the retailer’s stock valued at $257,000 after purchasing an additional 90 shares during the last quarter. Invst LLC increased its holdings in shares of Target by 2.4% in the third quarter. Invst LLC now owns 11,760 shares of the retailer’s stock worth $1,833,000 after buying an additional 276 shares during the period. Soltis Investment Advisors LLC purchased a new stake in Target during the 3rd quarter valued at about $326,000. Rehmann Capital Advisory Group grew its position in Target by 234.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 7,237 shares of the retailer’s stock worth $1,159,000 after acquiring an additional 5,072 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Target by 4.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 8,140 shares of the retailer’s stock worth $1,269,000 after purchasing an additional 375 shares during the period. 79.73% of the stock is owned by hedge funds and other 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.