Target (NYSE:TGT) Downgraded by StockNews.com

Target (NYSE:TGT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Several other research analysts have also recently issued reports on TGT. Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley restated an “overweight” rating and set a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Oppenheimer cut their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Bank of America boosted their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada upped their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.47.

Target Stock Performance

TGT stock traded up $2.12 during trading on Thursday, reaching $150.17. The company had a trading volume of 3,059,877 shares, compared to its average volume of 3,949,442. The company has a market cap of $69.47 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Target has a twelve month low of $105.23 and a twelve month high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The firm has a 50-day simple moving average of $153.07 and a 200-day simple moving average of $152.23.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $1.80 earnings per share. As a group, sell-side analysts expect that Target will post 9.53 earnings per share for the current year.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Triad Wealth Partners LLC purchased a new position in Target during the second quarter worth about $25,000. Washington Trust Advisors Inc. lifted its holdings in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Slocum Gordon & Co LLP acquired a new position in Target in the second quarter valued at approximately $28,000. Retirement Group LLC grew its position in Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after acquiring an additional 91 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in Target during the second quarter worth $31,000. Hedge funds and other institutional investors 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.