Target (NYSE:TGT) Given New $100.00 Price Target at Evercore ISI

Target (NYSE:TGT) had its price target hoisted by equities research analysts at Evercore ISI from $95.00 to $100.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the retailer’s stock. Evercore ISI’s target price points to a potential downside of 11.12% from the stock’s current price.

Several other equities research analysts also recently weighed in on TGT. Robert W. Baird cut their price objective on Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Bank of America cut their price target on Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a research note on Thursday, November 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a report on Wednesday, January 21st. Royal Bank Of Canada dropped their price objective on shares of Target from $107.00 to $99.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Finally, BMO Capital Markets reduced their target price on shares of Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a report on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.21.

Target Price Performance

Shares of TGT traded up $2.98 during mid-day trading on Tuesday, reaching $112.51. The company had a trading volume of 1,272,454 shares, compared to its average volume of 6,252,513. The company has a market capitalization of $50.95 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 11.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The company’s 50 day simple moving average is $99.80 and its 200 day simple moving average is $96.33. Target has a 1-year low of $83.44 and a 1-year high of $137.05.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The business had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same period in the prior year, the company earned $1.85 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Analysts expect that Target will post 8.69 EPS for the current year.

Hedge Funds Weigh In On Target

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Target by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock worth $5,690,262,000 after acquiring an additional 286,499 shares in the last quarter. State Street Corp grew its stake in Target by 2.5% during the third quarter. State Street Corp now owns 37,648,065 shares of the retailer’s stock worth $3,377,031,000 after purchasing an additional 911,964 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Target by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock worth $1,602,825,000 after purchasing an additional 277,176 shares in the last quarter. Norges Bank acquired a new position in Target in the second quarter valued at approximately $578,009,000. Finally, Dimensional Fund Advisors LP lifted its stake in Target by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 5,051,151 shares of the retailer’s stock valued at $453,050,000 after buying an additional 122,300 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.