Jefferies Financial Group Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective reduced by equities researchers at Jefferies Financial Group from $165.00 to $150.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the retailer’s stock. Jefferies Financial Group’s target price indicates a potential upside of 28.15% from the company’s current price.

Several other analysts have also commented on TGT. Piper Sandler lowered their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. raised their price target on Target from $139.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Bank of America decreased their price objective on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Stifel Nicolaus boosted their target price on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $156.43.

Target Price Performance

NYSE TGT traded down $3.71 during mid-day trading on Tuesday, hitting $117.05. The stock had a trading volume of 15,612,807 shares, compared to its average volume of 5,843,926. The company has a 50 day simple moving average of $133.54 and a 200 day simple moving average of $142.28. The company has a market cap of $53.63 billion, a price-to-earnings ratio of 12.41, 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 quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings results 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 return on equity of 31.11% and a net margin of 4.06%. Equities analysts forecast that Target will post 8.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Target

Large investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in Target in the 3rd quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in shares of Target during the fourth quarter worth $29,000. Bernard Wealth Management Corp. purchased a new position in shares of Target in the fourth quarter valued at $29,000. MCF Advisors LLC grew its holdings in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the period. 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.