Target (TGT) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Target (NYSE:TGT) from an underperform rating to a market perform rating in a research note released on Monday, The Fly reports.

A number of other brokerages have also commented on TGT. Zacks Investment Research upgraded shares of Target from a hold rating to a strong-buy rating and set a $88.00 price target for the company in a research note on Saturday, January 20th. Vetr lowered shares of Target from a hold rating to a sell rating and set a $73.66 price target for the company. in a research note on Tuesday, February 27th. Citigroup restated a neutral rating and set a $80.00 price target (down previously from $86.00) on shares of Target in a research note on Friday, February 16th. Credit Suisse Group began coverage on shares of Target in a research note on Monday, February 26th. They set an outperform rating and a $86.00 price target for the company. Finally, Susquehanna Bancshares set a $95.00 price target on shares of Target and gave the company a buy rating in a research note on Monday, March 5th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $74.20.

Shares of TGT stock opened at $72.00 on Monday. The firm has a market cap of $38,876.32, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 3.01 and a beta of 0.73. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.30. Target has a 12 month low of $48.56 and a 12 month high of $78.70.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.02). The business had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 EPS. analysts forecast that Target will post 5.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Wednesday, May 16th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.44%. Target’s payout ratio is currently 52.65%.

In related news, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John J. Mulligan sold 118,373 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the transaction, the insider now owns 195,906 shares of the company’s stock, valued at approximately $13,589,999.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,930 shares of company stock valued at $9,102,439. 0.20% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TGT. Janus Henderson Group PLC grew its position in Target by 19.1% during the third quarter. Janus Henderson Group PLC now owns 269,458 shares of the retailer’s stock valued at $15,898,000 after buying an additional 43,151 shares during the period. GSA Capital Partners LLP bought a new position in Target during the third quarter valued at about $640,000. Pensionfund DSM Netherlands bought a new position in Target during the fourth quarter valued at about $3,719,000. Pensionfund Sabic bought a new position in Target during the fourth quarter valued at about $1,892,000. Finally, Chickasaw Capital Management LLC grew its position in Target by 63.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,670 shares of the retailer’s stock valued at $1,022,000 after buying an additional 6,070 shares during the period. Institutional investors own 87.02% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This report was reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2018/04/17/target-tgt-upgraded-at-wolfe-research.html.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

The Fly

Analyst Recommendations for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply