Roth Mkm Reaffirms “Neutral” Rating for Target (NYSE:TGT)

Target (NYSE:TGT)‘s stock had its “neutral” rating reiterated by equities research analysts at Roth Mkm in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $140.00 target price on the retailer’s stock. Roth Mkm’s target price would indicate a potential upside of 8.35% from the company’s previous close.

A number of other analysts have also recently commented on the company. Piper Sandler cut their price objective on Target from $220.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, August 14th. HSBC began coverage on shares of Target in a report on Friday, September 22nd. They issued a “hold” rating and a $140.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of Target from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays cut their target price on shares of Target from $163.00 to $142.00 and set an “equal weight” rating for the company in a research note on Friday, August 11th. Finally, Tigress Financial decreased their price target on shares of Target from $215.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Seventeen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.16.

Target Stock Performance

Shares of NYSE:TGT traded down $1.25 on Thursday, hitting $129.21. 9,276,974 shares of the company were exchanged, compared to its average volume of 4,585,922. The company has a current ratio of 0.83, a quick ratio of 0.18 and a debt-to-equity ratio of 1.24. Target has a 1-year low of $102.93 and a 1-year high of $181.70. The firm has a market capitalization of $59.64 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04. The stock’s 50 day moving average price is $112.56 and its 200 day moving average price is $127.71.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 15th. The retailer reported $2.10 EPS for the quarter, beating the consensus estimate of $1.48 by $0.62. Target had a net margin of 3.12% and a return on equity of 29.43%. The company had revenue of $25 billion for the quarter, compared to analyst estimates of $25.28 billion. During the same quarter last year, the business earned $1.54 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts predict that Target will post 7.56 EPS for the current year.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the sale, the insider now owns 399,669 shares of the company’s stock, valued at $52,236,738.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Target

Several hedge funds have recently modified their holdings of the stock. Resources Management Corp CT ADV raised its position in Target by 12.8% in the 3rd quarter. Resources Management Corp CT ADV now owns 7,076 shares of the retailer’s stock valued at $782,000 after purchasing an additional 803 shares in the last quarter. Revisor Wealth Management LLC purchased a new stake in shares of Target during the third quarter worth approximately $274,000. Orion Capital Management LLC acquired a new stake in Target in the third quarter valued at approximately $55,000. Westside Investment Management Inc. raised its holdings in Target by 94.0% in the third quarter. Westside Investment Management Inc. now owns 1,857 shares of the retailer’s stock valued at $205,000 after acquiring an additional 900 shares in the last quarter. Finally, Employees Retirement System of Texas lifted its stake in Target by 61.5% in the third quarter. Employees Retirement System of Texas now owns 25,502 shares of the retailer’s stock worth $2,820,000 after acquiring an additional 9,710 shares during the last quarter. 78.33% of the stock is currently owned by institutional investors and hedge funds.

About Target

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.