Target (NYSE:TGT) Given Overweight Rating at Morgan Stanley

Target (NYSE:TGT)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a research note issued on Wednesday, Benzinga reports. They presently have a $180.00 price objective on the retailer’s stock. Morgan Stanley’s target price would indicate a potential upside of 11.47% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Evercore ISI upped their price objective on shares of Target from $165.00 to $166.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. Oppenheimer cut their price target on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. BNP Paribas began coverage on Target in a research report on Monday, June 3rd. They set an “underperform” rating and a $116.00 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $190.00 target price on shares of Target in a research note on Friday, August 16th. Finally, Piper Sandler began coverage on Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.57.

Target Stock Performance

NYSE:TGT traded up $18.27 during trading hours on Wednesday, reaching $161.48. 17,963,157 shares of the company’s stock were exchanged, compared to its average volume of 3,990,762. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $74.71 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.38 and a beta of 1.19. Target has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a 50-day moving average of $145.10 and a 200 day moving average of $154.40.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. Target had a return on equity of 31.91% and a net margin of 3.87%. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the firm posted $1.80 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts anticipate that Target will post 9.31 EPS for the current year.

Hedge Funds Weigh In On Target

Several institutional investors and hedge funds have recently bought and sold shares of TGT. Washington Trust Advisors Inc. grew its holdings in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the period. Williams Jones Wealth Management LLC. raised its position in Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after purchasing an additional 68 shares during the period. Beacon Capital Management LLC boosted its position in shares of Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after buying an additional 69 shares during the period. Integral Investment Advisors Inc. lifted its position in Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares in the last quarter. Finally, Godshalk Welsh Capital Management Inc. grew its position in Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock valued at $1,158,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds 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.