Target (NYSE:TGT) Given New $82.00 Price Target at Truist Financial

Target (NYSE:TGT) had its price target reduced by equities researchers at Truist Financial from $124.00 to $82.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the retailer’s stock. Truist Financial’s price objective would indicate a potential downside of 14.63% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their price target on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. KGI Securities set a $132.00 price objective on shares of Target in a research report on Wednesday, March 5th. Citigroup dropped their price target on Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group reduced their target price on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $136.03.

Target Stock Up 1.8 %

NYSE TGT traded up $1.67 during trading hours on Tuesday, reaching $96.05. 1,869,979 shares of the company’s stock traded hands, compared to its average volume of 7,069,442. The firm has a 50-day simple moving average of $118.45 and a 200 day simple moving average of $134.16. Target has a 52-week low of $90.25 and a 52-week high of $173.04. The firm has a market cap of $43.76 billion, a PE ratio of 10.18, a PEG ratio of 1.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm 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%. Sell-side analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Target

Several hedge funds have recently modified their holdings of TGT. Nicholas Company Inc. increased its holdings in shares of Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after purchasing an additional 9,485 shares during the period. River Road Asset Management LLC boosted its stake in shares of Target by 144.9% during the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after acquiring an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in Target in the fourth quarter valued at approximately $6,459,000. Sierra Summit Advisors LLC grew its stake in Target by 29.0% in the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after acquiring an additional 3,231 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.