UBS Group Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price target lowered by research analysts at UBS Group from $135.00 to $130.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the retailer’s stock. UBS Group’s price target suggests a potential upside of 31.33% from the company’s current price.

Several other brokerages have also issued reports on TGT. Guggenheim restated a “buy” rating and issued a $115.00 target price on shares of Target in a research note on Thursday. Evercore ISI lowered their target price on Target from $108.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday. Truist Financial boosted their price objective on Target from $90.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. Morgan Stanley decreased their price objective on Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Finally, Bank of America reiterated an “underperform” rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research note on Friday, August 15th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $113.74.

Target Stock Performance

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 PEG ratio of 2.80 and a beta of 1.22. The stock’s fifty day moving average price is $102.06 and its two-hundred day moving average price is $103.85. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25. Target has a 1 year low of $87.35 and a 1 year high of $161.84.

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

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Target

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DSG Capital Advisors LLC grew its position in Target by 16.1% during the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after buying an additional 21,726 shares in the last quarter. Viking Fund Management LLC boosted its holdings in shares of Target by 20.0% in the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer’s stock worth $6,262,000 after purchasing an additional 10,000 shares in the last quarter. Correct Capital Wealth Management boosted its holdings in shares of Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock worth $1,415,000 after purchasing an additional 4,189 shares in the last quarter. Chapin Davis Inc. boosted its holdings in shares of Target by 64.7% in the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer’s stock worth $888,000 after purchasing an additional 3,342 shares in the last quarter. Finally, CMH Wealth Management LLC boosted its holdings in shares of Target by 31.5% in the 1st quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer’s stock worth $6,410,000 after purchasing an additional 14,719 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.