Target (NYSE:TGT) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Target (NYSE:TGT) had its price target lifted by equities research analysts at Sanford C. Bernstein from $80.00 to $91.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the retailer’s stock. Sanford C. Bernstein’s price objective suggests a potential downside of 20.33% from the company’s current price.

Several other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $108.00 price target on shares of Target in a report on Thursday, January 8th. Citigroup boosted their price target on shares of Target from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. TD Cowen cut their price objective on Target from $105.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 20th. Argus lowered their target price on Target from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, December 1st. Finally, DA Davidson set a $120.00 target price on Target in a research report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $105.41.

Target Stock Down 1.9%

Shares of TGT traded down $2.22 during mid-day trading on Thursday, reaching $114.22. The company’s stock had a trading volume of 1,772,755 shares, compared to its average volume of 6,263,067. The company has a market cap of $51.72 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 11.81 and a beta of 1.14. The business has a fifty day moving average of $107.11 and a 200 day moving average of $97.64. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. Target has a 1 year low of $83.44 and a 1 year high of $127.06.

Institutional Investors Weigh In On Target

Several hedge funds have recently modified their holdings of TGT. Vanguard Group Inc. increased its position in Target by 14.7% during the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after acquiring an additional 6,607,982 shares during the period. Norges Bank bought a new stake in Target in the 4th quarter valued at $587,903,000. TOMS Capital Investment Management LP acquired a new stake in Target in the 4th quarter worth $257,571,000. AQR Capital Management LLC increased its holdings in shares of Target by 243.8% during the 4th quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after purchasing an additional 2,035,298 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Target by 6,639.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after purchasing an additional 1,884,577 shares during the period. 79.73% of the stock is owned by institutional investors.

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.