Bank of America Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective lowered by research analysts at Bank of America from $160.00 to $145.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the retailer’s stock. Bank of America‘s price objective would suggest a potential upside of 25.43% from the stock’s current price.

Several other research firms also recently weighed in on TGT. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI cut their price objective on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and a consensus target price of $150.23.

Target Trading Down 1.3 %

Target stock traded down $1.54 during mid-day trading on Wednesday, hitting $115.60. The company’s stock had a trading volume of 3,412,430 shares, compared to its average volume of 5,799,207. The stock’s fifty day moving average is $133.23 and its two-hundred day moving average is $142.09. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $52.97 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. Target has a 1 year low of $112.53 and a 1 year high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, analysts anticipate that Target will post 8.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings in shares of Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after acquiring an additional 490 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in shares of Target by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after acquiring an additional 3,590 shares during the period. Northeast Financial Group Inc. purchased a new stake in Target in the 4th quarter valued at $1,566,000. D.A. Davidson & CO. boosted its stake in Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares during the period. Finally, LMG Wealth Partners LLC purchased a new position in Target during the 4th quarter worth $1,438,000. Hedge funds and other institutional investors 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.