Piper Sandler Lowers Target (NYSE:TGT) Price Target to $130.00

Target (NYSE:TGT) had its price objective lowered by equities research analysts at Piper Sandler from $156.00 to $130.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. Piper Sandler’s target price would indicate a potential upside of 6.04% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. UBS Group lifted their price target on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Melius Research assumed coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. TD Cowen increased their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Stifel Nicolaus upped their price target on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and a consensus target price of $170.17.

Target Trading Up 0.7 %

NYSE:TGT opened at $122.60 on Thursday. The company has a fifty day moving average of $152.33 and a 200 day moving average of $150.12. Target has a 52 week low of $120.21 and a 52 week high of $181.86. The firm has a market capitalization of $56.48 billion, a P/E ratio of 12.62, a P/E/G 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 (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 EPS. On average, research analysts predict that Target will post 9.55 earnings per share for the current year.

Insiders Place Their Bets

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 12.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Target

A number of hedge funds have recently modified their holdings of TGT. Westside Investment Management Inc. lifted its stake in shares of Target by 5.6% in 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 period. Invst LLC raised its holdings in Target by 2.4% in the 3rd quarter. Invst LLC now owns 11,760 shares of the retailer’s stock worth $1,833,000 after purchasing an additional 276 shares during the period. Soltis Investment Advisors LLC acquired a new stake in Target in the third quarter valued at approximately $326,000. Rehmann Capital Advisory Group increased its holdings in Target by 234.3% in 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 in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Target by 4.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 8,140 shares of the retailer’s stock worth $1,269,000 after buying an additional 375 shares in the last quarter. Hedge funds and other 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.