JPMorgan Chase & Co. Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $146.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 21.97% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 price target on shares of Target in a research report on Monday, November 25th. Jefferies Financial Group lowered their target price on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler reduced their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Sanford C. Bernstein boosted their price target on Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 28th. Finally, Citigroup increased their price objective on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.07.

Target Trading Down 2.0 %

NYSE:TGT traded down $2.36 during trading hours on Wednesday, hitting $114.78. The stock had a trading volume of 1,486,398 shares, compared to its average volume of 5,741,656. Target has a one year low of $112.53 and a one year high of $181.86. The business’s 50 day moving average is $133.23 and its 200-day moving average is $142.09. The company has a market cap of $52.59 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.94 and a beta of 1.15. 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 announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Sell-side analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Target in the fourth quarter valued at approximately $757,892,000. State Street Corp raised its position in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. Raymond James Financial Inc. bought a new position in shares of Target in the fourth quarter worth $297,122,000. Ameriprise Financial Inc. raised its stake in shares of Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after purchasing an additional 1,506,275 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after buying an additional 1,502,200 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Company Profile

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.