Wells Fargo & Company Trims Target (NYSE:TGT) Target Price to $160.00

Target (NYSE:TGT) had its target price dropped by investment analysts at Wells Fargo & Company from $175.00 to $160.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 17.00% from the company’s current price.

TGT has been the topic of several other reports. Citigroup upgraded Target from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, May 7th. BMO Capital Markets cut their price target on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. BNP Paribas started coverage on Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Target from $165.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.46.

Target Price Performance

Shares of Target stock traded up $2.90 during midday trading on Wednesday, hitting $136.75. 72,420 shares of the company were exchanged, compared to its average volume of 3,864,176. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The firm has a market cap of $63.27 billion, a P/E ratio of 15.29, a PEG ratio of 1.38 and a beta of 1.19. Target has a 52 week low of $102.93 and a 52 week high of $181.86. The firm has a 50 day simple moving average of $147.21 and a 200-day simple moving average of $154.62.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 earnings per share. Research analysts forecast that Target will post 9.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TGT. Triad Wealth Partners LLC bought a new position in shares of Target in the 2nd quarter worth about $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target in the 4th quarter worth approximately $28,000. Slocum Gordon & Co LLP purchased a new position in Target in the second quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new stake in Target during the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Target in the fourth quarter worth $29,000. 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.