Wells Fargo & Company Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective lowered by investment analysts at Wells Fargo & Company from $150.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 15.68% from the company’s previous close.

Several other research firms have also recently commented on TGT. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a report on Wednesday, November 20th. Roth Mkm reissued a “neutral” rating and issued a $122.00 target price (down previously from $131.00) on shares of Target in a research report on Wednesday. The Goldman Sachs Group dropped their price target on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial dropped their target price on shares of Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets decreased their target price on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. One 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. According to data from MarketBeat, Target has an average rating of “Hold” and an average target price of $148.23.

Target Stock Down 0.4 %

NYSE TGT traded down $0.44 on Wednesday, reaching $116.70. The company had a trading volume of 7,306,075 shares, compared to its average volume of 5,894,583. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target has a 1 year low of $112.53 and a 1 year high of $181.86. The firm has a 50-day moving average of $133.23 and a 200-day moving average of $142.09. The firm has a market capitalization of $53.47 billion, a PE ratio of 12.38, a P/E/G ratio of 1.94 and a beta of 1.15.

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

Hedge Funds Weigh In On Target

Several institutional investors and hedge funds have recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Target during the third quarter worth approximately $28,000. Bernard Wealth Management Corp. purchased a new stake in Target in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Target during the 4th quarter valued at $29,000. FSA Wealth Management LLC purchased a new position in shares of Target during the 3rd quarter valued at $36,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Target in the third quarter worth $38,000. 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.