Target (NYSE:TGT) Price Target Lowered to $112.00 at Morgan Stanley

Target (NYSE:TGT) had its target price cut by equities research analysts at Morgan Stanley from $160.00 to $112.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the retailer’s stock. Morgan Stanley’s price target would indicate a potential upside of 20.42% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. UBS Group lowered their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Baird R W lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Truist Financial dropped their price objective on Target from $124.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group downgraded shares of Target from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $101.00 in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.16.

Target Stock Performance

Shares of Target stock opened at $93.01 on Thursday. The stock has a market cap of $42.26 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm’s 50-day moving average is $97.70 and its 200 day moving average is $120.93. Target has a 1 year low of $87.35 and a 1 year high of $167.40.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 earnings per share. Sell-side analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Institutional Trading of Target

Large investors have recently modified their holdings of the company. MCF Advisors LLC lifted its position in shares of 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 acquiring an additional 163 shares during the last quarter. Sheets Smith Wealth Management increased its holdings in shares of Target by 15.7% during the 4th quarter. Sheets Smith Wealth Management now owns 1,838 shares of the retailer’s stock valued at $248,000 after acquiring an additional 250 shares during the last quarter. XML Financial LLC boosted its holdings in shares of Target by 20.9% during the 4th quarter. XML Financial LLC now owns 3,026 shares of the retailer’s stock worth $409,000 after buying an additional 523 shares during the period. Advisory Alpha LLC bought a new position in Target in the 4th quarter worth approximately $277,000. Finally, True North Advisors LLC lifted its stake in shares of Target by 5.0% in the fourth quarter. True North Advisors LLC now owns 3,112 shares of the retailer’s stock valued at $421,000 after buying an additional 149 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.