Citigroup Cuts Target (NYSE:TGT) Price Target to $120.00

Target (NYSE:TGT) had its price target lowered by Citigroup from $133.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the retailer’s stock. Citigroup’s target price would indicate a potential upside of 4.15% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. TD Cowen dropped their price objective on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Sanford C. Bernstein lifted their price target on shares of Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $153.10.

Target Stock Down 1.6 %

Shares of TGT stock traded down $1.92 on Wednesday, hitting $115.22. The stock had a trading volume of 2,347,201 shares, compared to its average volume of 5,772,870. The stock’s 50 day moving average is $133.23 and its 200-day moving average is $142.09. The firm has a market capitalization of $52.80 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.94 and a beta of 1.15. Target has a 52-week low of $112.53 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, research analysts expect that Target will post 8.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in Target during the 3rd quarter valued at $49,000. Impax Asset Management Group plc increased its holdings in shares of Target by 8.6% during the 3rd quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock worth $37,632,000 after purchasing an additional 19,095 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Target during the third quarter valued at about $38,000. Central Bank & Trust Co. lifted its stake in shares of Target by 6.2% in the third quarter. Central Bank & Trust Co. now owns 2,283 shares of the retailer’s stock valued at $356,000 after buying an additional 134 shares during the period. Finally, Crestwood Advisors Group LLC grew its position in Target by 11.0% during the third quarter. Crestwood Advisors Group LLC now owns 11,267 shares of the retailer’s stock worth $1,756,000 after buying an additional 1,114 shares in 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.