Target (NYSE:TGT) Price Target Lowered to $120.00 at Citigroup

Target (NYSE:TGT) had its price objective lowered by equities researchers at Citigroup from $133.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. Citigroup’s price objective suggests a potential upside of 5.47% from the company’s previous close.

Other research analysts have also issued research reports about the stock. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company dropped their price objective on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Evercore ISI reduced their target price on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus decreased their price target on Target from $145.00 to $130.00 and set a “hold” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Target has an average rating of “Hold” and an average target price of $147.00.

Target Stock Performance

NYSE:TGT opened at $113.78 on Wednesday. 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 50 day simple moving average of $132.46 and a 200 day simple moving average of $141.72. Target has a 1-year low of $112.53 and a 1-year high of $181.86. The stock has a market cap of $52.13 billion, a P/E ratio of 12.07, a PEG ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Research analysts anticipate that Target will post 8.69 earnings per share for the current year.

Hedge Funds Weigh In On Target

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC bought a new stake in shares of Target in the third quarter worth $28,000. Bernard Wealth Management Corp. acquired a new position in Target during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new position in Target during the 4th quarter worth about $29,000. FSA Wealth Management LLC bought a new stake in shares of Target in the 3rd quarter valued at about $36,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Target in the third quarter valued at about $38,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.