Target (NYSE:TGT) Stock Rating Lowered by Daiwa America

Target (NYSE:TGT) was downgraded by equities research analysts at Daiwa America from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. UBS Group raised their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Finally, Piper Sandler decreased their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus price target of $160.30.

Target Stock Down 3.0 %

TGT stock opened at $126.55 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a market cap of $58.30 billion, a PE ratio of 13.42, a P/E/G ratio of 2.05 and a beta of 1.24. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The firm has a 50 day simple moving average of $150.31 and a 200 day simple moving average of $149.05.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the previous year, the company earned $2.10 EPS. Target’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts forecast that Target will post 8.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Target

A number of hedge funds and other institutional investors have recently modified their holdings of TGT. Janus Henderson Group PLC increased its holdings in Target by 20.5% during the first quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after buying an additional 36,941 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Target in the 1st quarter valued at about $77,000. Swedbank AB acquired a new stake in Target in the 1st quarter valued at about $107,367,000. Invst LLC grew its holdings in Target by 33.5% during the first quarter. Invst LLC now owns 11,586 shares of the retailer’s stock worth $2,060,000 after purchasing an additional 2,908 shares during the period. Finally, Cetera Investment Advisers increased its position in Target by 163.6% during the first quarter. Cetera Investment Advisers now owns 168,426 shares of the retailer’s stock worth $29,847,000 after buying an additional 104,529 shares during 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.