Target (NYSE:TGT) Price Target Cut to $135.00 by Analysts at Wells Fargo & Company

Target (NYSE:TGT) had its price target reduced by research analysts at Wells Fargo & Company from $150.00 to $135.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 15.68% from the company’s previous close.

TGT has been the subject of several other research reports. UBS Group dropped their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler cut their target price on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday. Bank of America reduced their target price on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday. Sanford C. Bernstein raised their price target on shares of Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a report on Tuesday, January 28th. Finally, Guggenheim upped their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $148.23.

Target Price Performance

Shares of TGT traded down $0.44 during mid-day trading on Wednesday, reaching $116.70. The company had a trading volume of 7,306,075 shares, compared to its average volume of 5,894,583. Target has a 1-year low of $112.53 and a 1-year high of $181.86. The company has a market capitalization of $53.47 billion, a price-to-earnings ratio of 12.38, 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. The company’s 50 day simple moving average is $133.23 and its 200 day simple moving average is $142.09.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Analysts expect that Target will post 8.69 EPS for the current year.

Institutional Investors Weigh In On Target

Several institutional investors have recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Target during the third quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the 4th quarter valued at approximately $29,000. Bernard Wealth Management Corp. acquired a new position in shares of Target during the 4th quarter worth $29,000. 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 period. Finally, Raleigh Capital Management Inc. raised its stake in shares of 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 last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.