Target (TGT) Lifted to “Overweight” at Barclays

Target (NYSE:TGT) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, Briefing.com Automated Import reports. The brokerage currently has a $115.00 price target on the retailer’s stock, up from their previous price target of $85.00. Barclays‘s target price would indicate a potential upside of 49.12% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Target from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Friday, March 8th. Deutsche Bank raised their target price on shares of Target from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Citigroup reaffirmed a “neutral” rating and issued a $78.00 target price on shares of Target in a research report on Tuesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $86.00 target price (down previously from $100.00) on shares of Target in a research report on Monday, January 7th. Finally, Tigress Financial reissued a “buy” rating on shares of Target in a research report on Thursday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $88.87.

Shares of NYSE TGT opened at $77.12 on Monday. Target has a fifty-two week low of $60.15 and a fifty-two week high of $90.39. The company has a market capitalization of $39.82 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 5th. The retailer reported $1.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.53. Target had a net margin of 3.90% and a return on equity of 25.74%. The company had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.05 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. Research analysts predict that Target will post 5.79 EPS for the current fiscal year.

In other news, insider Michael Edward Mcnamara sold 5,186 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the completion of the sale, the insider now owns 77,550 shares in the company, valued at approximately $6,140,409. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert M. Harrison sold 1,791 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now owns 12,836 shares of the company’s stock, valued at approximately $1,030,474.08. The disclosure for this sale can be found here. In the last three months, insiders sold 36,977 shares of company stock valued at $2,774,409. Insiders own 0.19% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Target by 3.2% in the 4th quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock worth $2,856,544,000 after purchasing an additional 1,334,425 shares in the last quarter. Vanguard Group Inc raised its position in shares of Target by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock valued at $3,381,221,000 after buying an additional 151,096 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Target by 5,697.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock valued at $280,000 after buying an additional 18,165,298 shares in the last quarter. Northern Trust Corp raised its position in shares of Target by 1.3% in the 4th quarter. Northern Trust Corp now owns 7,095,898 shares of the retailer’s stock valued at $468,967,000 after buying an additional 89,876 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Target by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after buying an additional 381,831 shares in the last quarter. Institutional investors own 83.86% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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