TD Cowen Lowers Target (NYSE:TGT) Price Target to $145.00

Target (NYSE:TGT) had its price objective lowered by equities research analysts at TD Cowen from $165.00 to $145.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the retailer’s stock. TD Cowen’s price target would suggest a potential upside of 19.04% from the company’s previous close.

Several other research firms also recently weighed in on TGT. Evercore ISI dropped their price target on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and cut their price target for the stock from $184.00 to $108.00 in a research note on Wednesday. Wells Fargo & Company cut their price objective on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus increased their price objective on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $180.00 target price on shares of Target in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.

Target Price Performance

TGT stock traded up $0.09 during midday trading on Thursday, hitting $121.81. The company’s stock had a trading volume of 9,751,223 shares, compared to its average volume of 4,261,723. The firm has a market capitalization of $56.11 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a 50 day moving average of $152.33 and a two-hundred day moving average of $150.12. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts expect that Target will post 9.55 EPS for the current year.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

Hedge funds have recently modified their holdings of the company. Cynosure Group LLC lifted its position in shares of Target by 4.3% during the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the last quarter. Financial Advocates Investment Management raised its position in shares of Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares during the last quarter. Hancock Whitney Corp boosted its stake in Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after acquiring an additional 68 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the period. Finally, Integral Investment Advisors Inc. increased its holdings in shares of Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

About Target

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.