Truist Financial Cuts Target (NYSE:TGT) Price Target to $124.00

Target (NYSE:TGT) had its price target cut by Truist Financial from $134.00 to $124.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the retailer’s stock. Truist Financial’s target price suggests a potential upside of 7.32% from the company’s previous close.

TGT has been the subject of several other research reports. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. BMO Capital Markets reduced their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. Guggenheim raised their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Telsey Advisory Group reduced their target price on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.73.

Target Stock Performance

NYSE:TGT traded down $1.60 during mid-day trading on Wednesday, hitting $115.54. 3,163,082 shares of the company’s stock traded hands, compared to its average volume of 5,794,108. 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 50 day moving average of $133.23 and a two-hundred day moving average of $142.09. The firm has a market capitalization of $52.94 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. Target has a 12 month low of $112.53 and a 12 month high of $181.86.

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

Institutional Trading of Target

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