Citigroup Lowers Target (NYSE:TGT) Price Target to $94.00

Target (NYSE:TGT) had its target price decreased by equities research analysts at Citigroup from $97.00 to $94.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. Citigroup’s price target points to a potential downside of 0.32% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Robert W. Baird downgraded shares of Target from an “outperform” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research report on Monday, April 7th. Truist Financial boosted their price objective on shares of Target from $82.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday. Evercore ISI lowered their price objective on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley lowered their price objective on shares of Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group lowered their price objective on shares of Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $117.97.

Target Stock Down 0.8%

TGT stock opened at $94.30 on Thursday. Target has a 52-week low of $87.35 and a 52-week high of $167.40. The company’s 50 day simple moving average is $97.28 and its 200-day simple moving average is $120.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a market capitalization of $42.85 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.94 and a beta of 1.27.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Target will post 8.69 EPS for the current year.

Hedge Funds Weigh In On Target

Several large investors have recently bought and sold shares of the stock. Horrell Capital Management Inc. raised its stake in Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after purchasing an additional 76 shares during the last quarter. Fiducient Advisors LLC raised its stake in Target by 4.6% during the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after purchasing an additional 78 shares during the last quarter. First PREMIER Bank raised its stake in Target by 21.9% during the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after purchasing an additional 80 shares during the last quarter. CENTRAL TRUST Co raised its stake in Target by 0.4% during the 4th quarter. CENTRAL TRUST Co now owns 18,593 shares of the retailer’s stock valued at $2,513,000 after purchasing an additional 82 shares during the last quarter. Finally, Napatree Capital LLC raised its stake in Target by 2.4% during the 4th quarter. Napatree Capital LLC now owns 3,609 shares of the retailer’s stock valued at $488,000 after purchasing an additional 85 shares during the last quarter. 79.73% of the stock is currently 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.