Evercore ISI Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its target price lowered by investment analysts at Evercore ISI from $130.00 to $120.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the retailer’s stock. Evercore ISI’s price objective would indicate a potential upside of 14.09% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. KGI Securities set a $132.00 price objective on Target in a research note on Wednesday, March 5th. Gordon Haskett downgraded Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Telsey Advisory Group cut their price target on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their price objective on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $142.90.

Target Stock Performance

Shares of TGT stock traded up $0.82 during trading on Tuesday, hitting $105.18. The company’s stock had a trading volume of 1,081,307 shares, compared to its average volume of 5,188,872. 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 company has a market cap of $47.92 billion, a PE ratio of 11.15, a P/E/G ratio of 1.94 and a beta of 1.18. The business has a fifty day moving average of $122.37 and a 200-day moving average of $136.08. Target has a 52 week low of $100.50 and a 52 week 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, beating analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, research analysts anticipate that Target will post 8.69 earnings per share for the current year.

Hedge Funds Weigh In On Target

Large investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new position in shares of Target in the third quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new position in Target during the fourth quarter valued at $29,000. Bernard Wealth Management Corp. bought a new stake in Target during the fourth quarter worth about $29,000. MCF Advisors LLC grew its stake in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.