Target (NYSE:TGT) Downgraded to "Hold" Rating by Daiwa America

Target (NYSE:TGT - Get Free Report) was downgraded by equities researchers at Daiwa America from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on TGT. JPMorgan Chase & Co. cut their target price on Target from $167.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on shares of Target from $190.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Stifel Nicolaus lowered their target price on shares of Target from $165.00 to $137.00 and set a "hold" rating for the company in a report on Thursday, November 21st. Piper Sandler dropped their price target on shares of Target from $156.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, November 21st. Finally, Daiwa Capital Markets lowered shares of Target from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $170.00 to $130.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $160.30.

Target Price Performance

Target stock traded up $3.56 during mid-day trading on Tuesday, reaching $130.11. 6,738,467 shares of the company's stock traded hands, compared to its average volume of 4,429,671. Target has a 12-month low of $120.21 and a 12-month 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. The stock has a 50 day moving average of $149.84 and a two-hundred day moving average of $148.92. The company has a market cap of $59.94 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.14 and a beta of 1.24.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the business posted $2.10 EPS. The firm's revenue was up .9% on a year-over-year basis. Equities analysts forecast that Target will post 8.6 earnings per share for the current year.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the company's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company's stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company's stock, valued at approximately $1,114,173.88. This represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TGT. Triad Wealth Partners LLC purchased a new position in shares of Target in the second quarter worth about $25,000. Slocum Gordon & Co LLP acquired a new position in Target in the 2nd quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in Target during the 3rd quarter worth approximately $28,000. Hobbs Group Advisors LLC acquired a new stake in Target during the 2nd quarter valued at approximately $31,000. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer's stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

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.