Target (NYSE:TGT) Now Covered by Truist Securities

Equities research analysts at Truist Securities started coverage on shares of Target (NYSE:TGT) in a report released on Thursday, Analyst Price Targets reports. The firm set a “buy” rating and a $270.00 price target on the retailer’s stock. Truist Securities’ target price would indicate a potential upside of 21.95% from the company’s previous close.

Several other equities analysts have also commented on TGT. UBS Group lowered shares of Target from a “buy” rating to a “sell” rating in a report on Thursday, January 6th. Truist Financial initiated coverage on shares of Target in a report on Thursday. They set a “buy” rating and a $270.00 target price on the stock. Raymond James increased their target price on shares of Target from $285.00 to $290.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 18th. The Goldman Sachs Group increased their target price on shares of Target from $281.00 to $308.00 and gave the stock a “buy” rating in a report on Tuesday, October 19th. Finally, Bank of America raised their price objective on shares of Target from $317.00 to $329.00 and gave the company a “buy” rating in a report on Thursday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Target has an average rating of “Buy” and a consensus price target of $260.29.

Target stock opened at $221.40 on Thursday. The firm has a 50 day simple moving average of $238.23 and a 200-day simple moving average of $245.31. Target has a 1-year low of $166.82 and a 1-year high of $268.98. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.33. The stock has a market cap of $106.08 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 17th. The retailer reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.20. Target had a net margin of 6.56% and a return on equity of 44.81%. The business had revenue of $25.29 billion during the quarter, compared to analysts’ expectations of $24.60 billion. During the same quarter in the prior year, the company posted $2.79 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities analysts expect that Target will post 13.19 earnings per share for the current fiscal year.

In other news, insider Christina Hennington sold 4,173 shares of the business’s stock in a transaction on Friday, November 19th. The shares were sold at an average price of $250.95, for a total transaction of $1,047,214.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian C. Cornell sold 30,000 shares of the business’s stock in a transaction on Thursday, December 2nd. The stock was sold at an average price of $244.72, for a total transaction of $7,341,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,277 shares of company stock valued at $15,643,765. 0.29% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TGT. BlackRock Inc. raised its holdings in Target by 1.6% in the third quarter. BlackRock Inc. now owns 41,153,523 shares of the retailer’s stock valued at $9,414,691,000 after acquiring an additional 637,721 shares in the last quarter. Geode Capital Management LLC raised its holdings in Target by 2.6% in the third quarter. Geode Capital Management LLC now owns 8,029,998 shares of the retailer’s stock valued at $1,832,484,000 after acquiring an additional 203,703 shares in the last quarter. Capital World Investors raised its holdings in Target by 7.2% in the third quarter. Capital World Investors now owns 7,275,047 shares of the retailer’s stock valued at $1,664,313,000 after acquiring an additional 485,927 shares in the last quarter. GQG Partners LLC raised its holdings in Target by 48.1% in the second quarter. GQG Partners LLC now owns 5,919,055 shares of the retailer’s stock valued at $1,430,396,000 after acquiring an additional 1,923,419 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Target by 3.8% in the second quarter. Jennison Associates LLC now owns 4,687,215 shares of the retailer’s stock valued at $1,133,087,000 after acquiring an additional 172,890 shares in the last quarter. 78.34% of the stock is currently owned by institutional investors and hedge funds.

About Target

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

Featured Story: What are the advantages of the Stochastic Momentum Index?

Analyst Recommendations for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.