Target (NYSE:TGT) Cut to Neutral at Robert W. Baird

Target (NYSE:TGT) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $110.00 price target on the retailer’s stock. Robert W. Baird’s target price points to a potential upside of 14.95% from the company’s current price.

Other research analysts have also issued reports about the company. Jefferies Financial Group decreased their target price on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus decreased their price objective on shares of Target from $130.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, March 20th. Bank of America cut their target price on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Citigroup decreased their price target on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler lowered their target price on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $137.48.

Target Price Performance

Shares of TGT opened at $95.70 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $119.41 and its 200 day simple moving average is $134.60. Target has a 1-year low of $90.62 and a 1-year high of $173.05. The company has a market cap of $43.60 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $30.83 billion. On average, research analysts forecast that Target will post 8.69 earnings per share for the current fiscal year.

Institutional Trading of Target

Hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Target in the 3rd quarter valued at approximately $28,000. Hopwood Financial Services Inc. acquired a new position in Target in the 4th quarter valued at approximately $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target during the fourth quarter valued at $29,000. MCF Advisors LLC lifted its holdings in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. grew its stake in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

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.