Target (NYSE:TGT) Price Target Cut to $135.00 by Analysts at Wells Fargo & Company

Target (NYSE:TGT) had its price target reduced by research analysts at Wells Fargo & Company from $150.00 to $135.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.65% from the stock’s current price.

Other analysts also recently issued research reports about the company. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a research report on Wednesday, November 20th. DA Davidson reduced their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday. Roth Mkm reaffirmed a “neutral” rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research note on Wednesday. Finally, BMO Capital Markets cut their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $147.00.

Target Stock Down 2.4 %

Target stock opened at $113.78 on Wednesday. Target has a 52 week low of $112.53 and a 52 week high of $181.86. The stock has a market cap of $52.13 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.94 and a beta of 1.18. The company’s 50-day moving average price is $132.46 and its two-hundred day moving average price is $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.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, analysts expect that Target will post 8.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Target

A number of institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its holdings in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in Target by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the last quarter. Northeast Financial Group Inc. acquired a new position in Target in the 4th quarter worth about $1,566,000. D.A. Davidson & CO. raised its stake in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares in the last quarter. Finally, LMG Wealth Partners LLC acquired a new stake in shares of Target during the 4th quarter valued at about $1,438,000. 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.