Target (NYSE:TGT) Lowered to Neutral Rating by Robert W. Baird

Target (NYSE:TGT) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat reports. They presently have a $110.00 price objective on the retailer’s stock. Robert W. Baird’s target price would suggest a potential upside of 14.95% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on TGT. UBS Group dropped their target price on Target from $170.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Telsey Advisory Group reduced their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Bank of America dropped their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Wells Fargo & Company cut their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $137.48.

Target Trading Up 1.5 %

Shares of TGT opened at $95.70 on Monday. The stock’s 50-day moving average price is $119.41 and its 200 day moving average price is $134.60. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a 12-month low of $90.62 and a 12-month high of $173.05. The firm has a market capitalization of $43.60 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, research analysts predict that Target will post 8.69 earnings per share for the current year.

Hedge Funds Weigh In On Target

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC acquired a new position in shares of Target during the third quarter worth about $28,000. Hopwood Financial Services Inc. bought a new position in shares of Target during the 4th quarter worth approximately $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the fourth quarter valued at approximately $29,000. MCF Advisors LLC lifted its position in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Company Profile

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.