Target (NYSE:TGT) Price Target Lowered to $130.00 at Piper Sandler

Target (NYSE:TGT) had its price objective lowered by stock analysts at Piper Sandler from $156.00 to $130.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the retailer’s stock. Piper Sandler’s price target would indicate a potential upside of 6.04% from the company’s previous close.

Several other brokerages have also recently commented on TGT. StockNews.com cut shares of Target from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. TD Cowen boosted their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein started coverage on Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Daiwa America upgraded shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.17.

Target Stock Performance

Shares of Target stock opened at $122.60 on Thursday. The firm has a market cap of $56.48 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. Target has a 52 week low of $120.21 and a 52 week high of $181.86. The business’s fifty day simple moving average is $152.33 and its 200-day simple moving average is $150.12. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. Equities analysts forecast that Target will post 9.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

Several institutional investors have recently bought and sold shares of the business. Triad Wealth Partners LLC acquired a new stake in shares of Target in the second quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in Target during the third quarter worth about $28,000. Slocum Gordon & Co LLP bought a new stake in shares of Target in the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new position in Target during the 2nd quarter worth $31,000. Finally, Wolff Wiese Magana LLC increased its position in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.