Target Corporation (TGT) Given Average Rating of “Hold” by Brokerages
Target Corporation (NYSE:TGT) has been assigned an average rating of “Hold” from the thirty research firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $61.50.
TGT has been the subject of a number of research reports. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “hold” rating and set a $59.00 target price (up previously from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 target price for the company in a research report on Monday, June 19th. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Tuesday, June 6th.
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In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. boosted its stake in shares of Target Corporation by 54.2% in the first quarter. Hennessy Advisors Inc. now owns 113,500 shares of the retailer’s stock valued at $6,264,000 after purchasing an additional 39,900 shares during the period. Punch & Associates Investment Management Inc. boosted its stake in shares of Target Corporation by 0.7% in the first quarter. Punch & Associates Investment Management Inc. now owns 61,156 shares of the retailer’s stock valued at $3,375,000 after purchasing an additional 417 shares during the period. Robinson Value Management Ltd. purchased a new position in shares of Target Corporation in the first quarter valued at $1,741,000. Welch & Forbes LLC boosted its stake in shares of Target Corporation by 0.3% in the first quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock valued at $450,000 after purchasing an additional 24 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Target Corporation in the first quarter valued at $441,000. Institutional investors own 83.33% of the company’s stock.
Target Corporation (TGT) traded up 0.82% during mid-day trading on Friday, reaching $59.96. 6,718,706 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $56.66 and its 200 day moving average is $55.03. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock has a market capitalization of $32.75 billion, a PE ratio of 12.12 and a beta of 0.60.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 earnings per share. Analysts forecast that Target Corporation will post $4.51 earnings per share for the current fiscal year.
Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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