Wells Fargo & Company Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT - Get Free Report) had its price objective dropped by research analysts at Wells Fargo & Company from $135.00 to $115.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the retailer's stock. Wells Fargo & Company's target price points to a potential upside of 21.79% from the stock's current price.

Several other research firms have also weighed in on TGT. Piper Sandler reduced their price objective on Target from $124.00 to $105.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Roth Capital set a $122.00 target price on Target in a research note on Wednesday, March 5th. Roth Mkm reissued a "neutral" rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Citigroup reissued a "neutral" rating and set a $97.00 target price (up from $95.00) on shares of Target in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Target from $140.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $122.77.

Target Price Performance

NYSE:TGT opened at $94.43 on Thursday. The stock's 50 day moving average price is $97.70 and its two-hundred day moving average price is $120.93. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $42.90 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.94 and a beta of 1.27. Target has a 12-month low of $87.35 and a 12-month high of $167.40.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Target will post 8.69 earnings per share for the current year.

Institutional Trading of Target

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its position in Target by 0.7% during the first quarter. Acadian Asset Management LLC now owns 135,974 shares of the retailer's stock worth $14,183,000 after buying an additional 909 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Target by 119.7% in the first quarter. Geneos Wealth Management Inc. now owns 4,398 shares of the retailer's stock valued at $459,000 after buying an additional 2,396 shares during the period. Intech Investment Management LLC raised its stake in Target by 38.8% in the first quarter. Intech Investment Management LLC now owns 100,917 shares of the retailer's stock valued at $10,532,000 after purchasing an additional 28,214 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Target by 0.9% in the 1st quarter. Focus Partners Wealth now owns 95,879 shares of the retailer's stock valued at $10,006,000 after purchasing an additional 818 shares in the last quarter. Finally, Integrity Alliance LLC. boosted its position in Target by 187.1% during the 1st quarter. Integrity Alliance LLC. now owns 22,706 shares of the retailer's stock valued at $2,370,000 after buying an additional 14,797 shares during the period. 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.

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