Truist Financial Lowers Target (NYSE:TGT) Price Target to $124.00

Target (NYSE:TGT) had its price target decreased by equities research analysts at Truist Financial from $134.00 to $124.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the retailer’s stock. Truist Financial’s target price points to a potential upside of 8.99% from the stock’s previous close.

A number of other research firms also recently commented on TGT. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and decreased their target price for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Citigroup decreased their price objective on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday. DA Davidson cut their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. Roth Mkm reissued a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday. Finally, TD Cowen lowered their price target on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $147.00.

Target Trading Down 2.4 %

NYSE TGT opened at $113.78 on Wednesday. Target has a 12-month low of $112.53 and a 12-month high of $181.86. The company has a fifty day simple moving average of $132.46 and a two-hundred day simple moving average of $141.72. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a market cap of $52.13 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. On average, analysts forecast that Target will post 8.69 earnings per share for the current year.

Hedge Funds Weigh In On Target

A number of hedge funds have recently made changes to their positions in TGT. Norges Bank purchased a new stake in shares of Target during the fourth quarter worth approximately $757,892,000. State Street Corp grew its holdings in shares of Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Target in the fourth quarter valued at about $297,122,000. Ameriprise Financial Inc. lifted its stake in shares of Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock worth $536,407,000 after buying an additional 1,506,275 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Target by 173.2% during the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during 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.