Target (NYSE:TGT) Raised to "Hold" at Wall Street Zen

Key Points

• Target has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' outlook on the company's performance.
• Target's stock has a consensus rating of "Hold" with a target price of $115.42, amidst varying evaluations from multiple analysts, including price target reductions from Mizuho and The Goldman Sachs Group.
• In its latest earnings report, Target missed earnings expectations, reporting $1.30 EPS compared to a consensus estimate of $1.65, while revenue also fell short at $24.20 billion.

Target (NYSE:TGT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Several other equities analysts have also recently issued reports on the company. Mizuho reduced their price objective on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Truist Financial set a $107.00 target price on Target and gave the company a "hold" rating in a research note on Wednesday. Royal Bank Of Canada cut their target price on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Wedbush reiterated an "outperform" rating on shares of Target in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group cut their target price on Target from $101.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Target currently has a consensus rating of "Hold" and a consensus target price of $115.42.

Target Stock Performance

Shares of TGT opened at $102.99 on Friday. The business's fifty day moving average price is $101.77 and its 200 day moving average price is $104.87. Target has a 12-month low of $87.35 and a 12-month high of $167.40. The stock has a market capitalization of $46.79 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.95 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

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

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Target

Institutional investors have recently bought and sold shares of the stock. DSG Capital Advisors LLC increased its stake in Target by 16.1% in the 1st quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after purchasing an additional 21,726 shares in the last quarter. Viking Fund Management LLC increased its stake in Target by 20.0% in the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after purchasing an additional 10,000 shares in the last quarter. Correct Capital Wealth Management increased its stake in Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock worth $1,415,000 after purchasing an additional 4,189 shares in the last quarter. Chapin Davis Inc. increased its stake in Target by 64.7% in the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock worth $888,000 after purchasing an additional 3,342 shares in the last quarter. Finally, CMH Wealth Management LLC increased its stake in Target by 31.5% in the 1st quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer's stock worth $6,410,000 after purchasing an additional 14,719 shares in the last quarter. 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.

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