Evercore ISI Lowers Target (NYSE:TGT) Price Target to $180.00

Target (NYSE:TGT) had its price objective cut by research analysts at Evercore ISI from $183.00 to $180.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the retailer’s stock. Evercore ISI’s price objective would indicate a potential upside of 10.38% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Target from $125.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Morgan Stanley upped their price objective on Target from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Roth Mkm increased their target price on Target from $140.00 to $153.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Bank of America boosted their price target on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets increased their price objective on Target from $145.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $181.85.

Target Stock Down 1.2 %

Shares of Target stock traded down $1.93 during midday trading on Tuesday, hitting $163.08. The company had a trading volume of 801,085 shares, compared to its average volume of 3,758,322. Target has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The stock has a market capitalization of $75.29 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a 50 day moving average of $162.13 and a 200 day moving average of $139.80.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. On average, equities analysts predict that Target will post 9.39 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock worth $8,819,598 in the last three months. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Target

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP increased its position in Target by 100.0% in the fourth quarter. Quarry LP now owns 192 shares of the retailer’s stock worth $27,000 after purchasing an additional 96 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target in the 4th quarter worth about $28,000. Private Wealth Management Group LLC bought a new position in shares of Target in the 4th quarter valued at about $29,000. Rakuten Securities Inc. purchased a new position in Target in the fourth quarter worth about $29,000. Finally, Scarborough Advisors LLC bought a new stake in Target in the fourth quarter worth $29,000. Institutional investors own 79.73% of the company’s stock.

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.