Telsey Advisory Group Reiterates Outperform Rating for Target (NYSE:TGT)

Target (NYSE:TGT)‘s stock had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group in a research report issued on Thursday, Benzinga reports. They presently have a $195.00 price objective on the retailer’s stock. Telsey Advisory Group’s price target indicates a potential upside of 26.01% from the stock’s previous close.

Several other equities analysts also recently weighed in on TGT. BNP Paribas initiated coverage on shares of Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target on the stock. Roth Mkm raised their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Piper Sandler assumed coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target on the stock. Royal Bank of Canada lifted their price objective on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, TD Cowen raised their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.68.

Target Trading Down 1.1 %

NYSE TGT opened at $154.75 on Thursday. The stock has a market cap of $71.59 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a fifty day simple moving average of $148.48 and a two-hundred day simple moving average of $155.08.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during 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%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. On average, analysts forecast that Target will post 9.53 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Target

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. boosted its position in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. raised its stake in Target by 0.6% during the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after purchasing an additional 68 shares during the period. Beacon Capital Management LLC boosted its holdings in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after purchasing an additional 69 shares during the last quarter. Integral Investment Advisors Inc. grew its stake in shares of Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after buying an additional 69 shares during the period. Finally, Godshalk Welsh Capital Management Inc. increased its holdings in shares of Target by 0.9% during the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Company Profile

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.