Target’s (TGT) Outperform Rating Reaffirmed at Telsey Advisory Group

Target (NYSE:TGT)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued to investors on Thursday, Benzinga reports. They presently have a $195.00 price objective on the retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 24.61% from the company’s previous close.

Several other research firms have also issued reports on TGT. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Monday, August 26th. Truist Financial increased their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. UBS Group increased their price target on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company raised their target price on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.68.

Target Stock Up 1.9 %

Shares of TGT traded up $2.89 during trading on Thursday, reaching $156.49. The company’s stock had a trading volume of 4,916,687 shares, compared to its average volume of 4,023,073. The company has a fifty day moving average of $148.34 and a two-hundred day moving average of $155.03. Target has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a market cap of $72.40 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.90 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 (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 EPS. On average, sell-side analysts predict that Target will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on 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 $48,210,768.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of Target

A number of institutional investors have recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in shares of Target during the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in Target in the 4th quarter worth approximately $28,000. Slocum Gordon & Co LLP purchased a new position in shares of Target during the 2nd quarter worth $28,000. Scarborough Advisors LLC purchased a new position in shares of Target during the 4th quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Target during the 2nd quarter valued at $31,000. 79.73% of the stock is currently 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.