Target (NYSE:TGT) Research Coverage Started at Truist Securities

Research analysts at Truist Securities assumed coverage on shares of Target (NYSE:TGT) in a note issued to investors on Thursday, Analyst Price Targets reports. The brokerage set a “buy” rating and a $270.00 price target on the retailer’s stock. Truist Securities’ price target points to a potential upside of 21.95% from the stock’s current price.

Several other research analysts have also recently commented on TGT. Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a research report on Friday, December 17th. Raymond James lifted their price objective on Target from $285.00 to $290.00 and gave the company a “strong-buy” rating in a report on Thursday, November 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Target from $306.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, November 10th. Truist Financial began coverage on Target in a research note on Thursday. They issued a “buy” rating and a $270.00 target price for the company. Finally, Wells Fargo & Company lowered Target from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $230.00 in a research note on Thursday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Target has an average rating of “Buy” and a consensus target price of $260.29.

Shares of Target stock opened at $221.40 on Thursday. The company’s fifty day simple moving average is $238.23 and its 200-day simple moving average is $245.31. The company has a market cap of $106.08 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.00. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.84. Target has a 1 year low of $166.82 and a 1 year high of $268.98.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 17th. The retailer reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.20. The business had revenue of $25.29 billion for the quarter, compared to the consensus estimate of $24.60 billion. Target had a net margin of 6.56% and a return on equity of 44.81%. Target’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $2.79 earnings per share. As a group, research analysts forecast that Target will post 13.19 earnings per share for the current fiscal year.

In other Target news, insider John J. Mulligan sold 28,918 shares of the company’s stock in a transaction on Friday, December 17th. The stock was sold at an average price of $223.60, for a total value of $6,466,064.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jill Sando sold 3,186 shares of the company’s stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $247.61, for a total value of $788,885.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,277 shares of company stock worth $15,643,765. Company insiders own 0.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TGT. Mascoma Wealth Management LLC bought a new stake in shares of Target during the 3rd quarter valued at $28,000. Atwood & Palmer Inc. lifted its position in shares of Target by 458.3% during the 3rd quarter. Atwood & Palmer Inc. now owns 134 shares of the retailer’s stock valued at $31,000 after acquiring an additional 110 shares during the period. Activest Wealth Management lifted its position in shares of Target by 107.5% during the 3rd quarter. Activest Wealth Management now owns 139 shares of the retailer’s stock valued at $32,000 after acquiring an additional 72 shares during the period. Bell Investment Advisors Inc bought a new stake in shares of Target during the 3rd quarter valued at $34,000. Finally, Guidance Point Advisors LLC bought a new stake in shares of Target during the 3rd quarter valued at $40,000. 78.34% of the stock is currently owned by hedge funds and other institutional investors.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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