Target (NYSE:TGT) Given a $107.00 Price Target at Truist Financial

Key Points

• Truist Financial raised Target's price target from $90.00 to $107.00, indicating a potential upside of 2.30% from its previous close.
• Target's recent earnings report showed a missed estimate with $1.30 EPS compared to the consensus estimate of $1.65, alongside a 2.8% decline in revenue from the prior year.
• The stock currently holds an average rating of "Hold" among analysts, with 23 hold ratings, 10 buy ratings, and 3 sell ratings.

Target (NYSE:TGT - Get Free Report) has been given a $107.00 price objective by stock analysts at Truist Financial in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a "hold" rating on the retailer's stock. Truist Financial's price target points to a potential upside of 2.41% from the company's previous close.

Several other research analysts also recently commented on TGT. Wall Street Zen downgraded Target from a "hold" rating to a "sell" rating in a research note on Saturday. Barclays reissued an "underweight" rating and issued a $91.00 price objective on shares of Target in a research note on Monday, July 21st. Robert W. Baird set a $100.00 price objective on Target in a research note on Thursday, May 22nd. Royal Bank Of Canada reduced their price objective on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company reduced their price objective on Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $115.81.

Target Stock Performance

Target stock traded down $0.64 during mid-day trading on Wednesday, hitting $104.48. The company had a trading volume of 2,809,485 shares, compared to its average volume of 6,888,315. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target has a 12-month low of $87.35 and a 12-month high of $167.40. The company's fifty day moving average is $101.22 and its 200-day moving average is $105.64. The company has a market capitalization of $47.47 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 2.99 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The business had revenue of $24.20 billion for the quarter, compared to analysts' expectations of $24.54 billion. During the same quarter last year, the business earned $2.03 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts predict that Target will post 8.69 EPS for the current year.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TGT. Brighton Jones LLC grew its holdings in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares during the period. Scotia Capital Inc. purchased a new stake in Target during the fourth quarter worth $233,000. Rockefeller Capital Management L.P. boosted its position in Target by 29.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 103,795 shares of the retailer's stock worth $14,059,000 after purchasing an additional 23,878 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Target by 2.2% in the fourth quarter. Townsquare Capital LLC now owns 8,364 shares of the retailer's stock valued at $1,131,000 after acquiring an additional 182 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its position in shares of Target by 53.5% in the fourth quarter. Belpointe Asset Management LLC now owns 6,092 shares of the retailer's stock valued at $824,000 after acquiring an additional 2,123 shares in the last quarter. Institutional investors and hedge funds 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.