Published On: Fri, Sep 16th, 2016

Target Corp.’s (TGT) “Underweight” Rating Reiterated at Barclays PLC

Target Corp. (NYSE:TGT)‘s stock had its “underweight” rating reaffirmed by investment analysts at Barclays PLC in a report issued on Friday. They presently have a $60.00 price target on the retailer’s stock. Barclays PLC’s price objective suggests a potential downside of 13.31% from the company’s current price.
TGT has been the topic of a number of other reports. Cowen and Company reiterated an “outperform” rating and issued a $75.00 price objective (down from $81.00) on shares of Target Corp. in a research note on Wednesday, August 17th. Credit Suisse Group AG reiterated a “hold” rating and issued a $72.00 price objective on shares of Target Corp. in a research note on Sunday, August 21st. Zacks Investment Research upgraded Target Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. BMO Capital Markets reiterated a “market perform” rating and issued a $76.00 price objective on shares of Target Corp. in a research note on Wednesday, July 6th. Finally, Vetr upgraded Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 price objective on the stock in a research note on Monday, July 4th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. Target Corp. currently has an average rating of “Hold” and a consensus target price of $77.28.
Shares of Target Corp. (NYSE:TGT) traded down 0.2464% on Friday, reaching $69.0395. The company had a trading volume of 2,290,435 shares. The company has a 50-day moving average price of $71.92 and a 200-day moving average price of $74.90. The firm has a market capitalization of $39.68 billion, a PE ratio of 12.7756 and a beta of 0.68. Target Corp. has a 52-week low of $65.50 and a 52-week high of $84.14.

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Target Corp. (NYSE:TGT) last posted its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The company had revenue of $16.20 billion for the quarter. During the same quarter last year, the business earned $1.22 earnings per share. Target Corp.’s quarterly revenue was down 7.2% on a year-over-year basis. Equities research analysts forecast that Target Corp. will post $4.96 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in TGT. Ropes Wealth Advisors LLC boosted its stake in Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock worth $107,000 after buying an additional 127 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock worth $119,000 after buying an additional 500 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Target Corp. by 1.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,201 shares of the retailer’s stock worth $154,000 after buying an additional 42 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Target Corp. during the first quarter worth approximately $165,000. Finally, Duncker Streett & Co. Inc. boosted its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock worth $165,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.
About Target Corp.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.

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