Piper Sandler Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective reduced by research analysts at Piper Sandler from $132.00 to $124.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the retailer’s stock. Piper Sandler’s target price suggests a potential upside of 7.07% from the stock’s previous close.

TGT has been the subject of several other reports. Evercore ISI lowered their target price on Target from $135.00 to $130.00 and set an “in-line” rating for the company in a research note on Wednesday. TD Cowen lowered their price objective on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Roth Mkm cut their target price on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. BMO Capital Markets lowered their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. Finally, Guggenheim lifted their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $155.37.

Target Price Performance

Shares of NYSE:TGT traded down $1.33 during midday trading on Wednesday, reaching $115.81. The company’s stock had a trading volume of 1,930,056 shares, compared to its average volume of 5,761,661. The business’s fifty day simple moving average is $133.23 and its 200-day simple moving average is $142.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target has a fifty-two week low of $112.53 and a fifty-two week high of $181.86. The company has a market capitalization of $53.07 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.94 and a beta of 1.15.

Target (NYSE:TGT) last announced 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. The company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, equities research analysts expect that Target will post 8.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new position in shares of Target in the 3rd quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. bought a new position in Target in the fourth quarter valued at approximately $29,000. MCF Advisors LLC increased its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. 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.