Evercore ISI Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective reduced by equities research analysts at Evercore ISI from $108.00 to $106.00 in a report released on Thursday,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 7.08% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Truist Financial lifted their price target on shares of Target from $90.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. Mizuho dropped their target price on shares of Target from $92.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. DA Davidson dropped their target price on shares of Target from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Wedbush reissued an “outperform” rating on shares of Target in a research report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.74.

Target Stock Up 2.0%

Shares of TGT opened at $98.9880 on Thursday. The firm has a market cap of $44.98 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 2.80 and a beta of 1.22. The company’s fifty day moving average is $102.06 and its two-hundred day moving average is $103.85. Target has a fifty-two week low of $87.35 and a fifty-two week high of $161.84. The company has a quick ratio of 0.25, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts forecast that Target will post 8.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider directly owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Target

A number of large investors have recently added to or reduced their stakes in TGT. WFA of San Diego LLC acquired a new position in shares of Target in the 2nd quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares in the last quarter. Kozak & Associates Inc. raised its position in shares of Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in Target in the fourth quarter worth about $29,000. Finally, Investment Research & Advisory Group Inc. acquired a new position in Target in the second quarter worth about $29,000. 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.