DA Davidson Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price target lowered by equities researchers at DA Davidson from $153.00 to $140.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the retailer’s stock. DA Davidson’s price objective points to a potential upside of 21.51% from the stock’s current price.

A number of other research firms have also recently issued reports on TGT. Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. TD Cowen decreased their target price on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Finally, Truist Financial increased their price target on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $153.10.

Target Price Performance

Shares of NYSE:TGT traded down $1.92 during midday trading on Wednesday, hitting $115.22. The stock had a trading volume of 2,347,201 shares, compared to its average volume of 5,772,870. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $52.80 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. The company’s 50-day moving average price is $133.23 and its 200-day moving average price is $142.09. Target has a fifty-two week low of $112.53 and a fifty-two week high of $181.86.

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

Institutional Investors Weigh In On Target

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Target in the 4th quarter valued at about $757,892,000. State Street Corp grew its stake in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. Raymond James Financial Inc. acquired a new stake in Target in the fourth quarter valued at approximately $297,122,000. Ameriprise Financial Inc. increased its holdings in shares of Target by 61.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after acquiring an additional 1,506,275 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Target by 173.2% during the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after purchasing an additional 1,502,200 shares during the period. 79.73% of the stock is owned by institutional investors.

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.