Target (TGT) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Target (NYSE: TGT) in the last few weeks:

  • 3/13/2018 – Target was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Target is trying all means to rapidly adapt to the changes in the retail ecosystem. The company is deploying resources to enhance omni-channel capacities, come up with new brands, remodel or refurbish stores, and expand same-day delivery options to expedite the shopping process. All these bode well for the stock that has outpaced the industry in the past three months and continued with its upbeat top-line performance in the final quarter of fiscal 2017 as well. However, bottom line did come under pressure due to higher cost of sales and SG&A expenses. We believe that given Target’s expansion plan, it might be too early to write off the stock just on the basis of an earnings fiasco. Analysts pointed that incremental investments, higher wages and rise in costs due to new fulfillment options may weigh on margins to an extent. Nevertheless, it is better to face short-term impediments in order to attain the long-term goals.”
  • 3/7/2018 – Target was given a new $64.00 price target on by analysts at Morgan Stanley. They now have a “sell” rating on the stock.
  • 3/7/2018 – Target had its price target lowered by analysts at Telsey Advisory Group from $83.00 to $80.00. They now have a “market perform” rating on the stock.
  • 3/6/2018 – Target was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $75.42 price target on the stock.
  • 3/5/2018 – Target was given a new $95.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “buy” rating on the stock.
  • 3/5/2018 – Target is now covered by analysts at Credit Suisse Group AG. They set a “buy” rating and a $86.00 price target on the stock.
  • 2/27/2018 – Target was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $73.66 price target on the stock.
  • 2/26/2018 – Target is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $86.00 price target on the stock.
  • 2/16/2018 – Target had its “neutral” rating reaffirmed by analysts at Citigroup. They now have a $80.00 price target on the stock, down previously from $86.00.
  • 2/15/2018 – Target was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $73.66 price target on the stock.
  • 2/14/2018 – Target was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $85.00 price target on the stock, up previously from $75.00.
  • 2/13/2018 – Target was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 2/8/2018 – Target was given a new $80.00 price target on by analysts at Cowen Inc. They now have a “hold” rating on the stock.
  • 2/5/2018 – Target was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $72.52 price target on the stock.
  • 1/20/2018 – Target was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $88.00 price target on the stock. According to Zacks, “Target is trying all means to rapidly adapt to the changes in the retail ecosystem. The company’s initiatives such as the development of omni-channel capacities, diversification and localization of assortments along with emphasis on flexible format stores bode well. These efforts helped post solid holiday numbers that allowed management to lift sales and earnings view. As a result, the stock has outpaced the industry in a month. Comparable sales rose 3.4% in the combined November/December period buoyed by healthy store comps, robust traffic and sturdy digital sales. Target now expects digital sales to increase more than 25% for the fourth straight year in fiscal 2017. Further, Target now envisions comparable sales to increase approximately 3.4% during the fourth quarter with full year expected to be just over 1%. Lately, estimates are trending up ahead of the fourth quarter earnings release.”

Shares of Target stock traded down $0.81 during trading on Monday, reaching $70.18. 1,902,329 shares of the company’s stock were exchanged, compared to its average volume of 7,198,994. The company has a market cap of $38,588.22, a price-to-earnings ratio of 13.12, a PEG ratio of 2.99 and a beta of 0.71. Target Co. has a 1-year low of $48.56 and a 1-year high of $78.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95.

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Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The firm had revenue of $22.77 billion during the quarter, compared to the consensus estimate of $22.56 billion. Target had a return on equity of 23.04% and a net margin of 4.08%. Target’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. sell-side analysts expect that Target Co. will post 5.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Wednesday, May 16th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.53%. Target’s dividend payout ratio (DPR) is presently 46.36%.

In other Target news, insider Robert M. Harrison sold 8,557 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the sale, the insider now owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the sale, the insider now directly owns 16,906 shares in the company, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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