Target (NYSE:TGT) Shares Up 2.1% – Should You Buy?

Target Co. (NYSE:TGT)’s stock price shot up 2.1% during trading on Wednesday . The stock traded as high as $136.29 and last traded at $134.30. 2,191,221 shares changed hands during trading, a decline of 52% from the average session volume of 4,540,547 shares. The stock had previously closed at $131.60.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TGT. Stifel Nicolaus upped their target price on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Evercore ISI decreased their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday, November 21st. BMO Capital Markets dropped their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. Finally, Sanford C. Bernstein started coverage on shares of Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective for the company. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $160.57.

Target Trading Up 0.6 %

The firm has a market capitalization of $60.68 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. 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 company has a fifty day moving average of $143.96 and a 200-day moving average of $146.91.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the business earned $2.10 earnings per share. On average, sell-side analysts anticipate that Target Co. will post 8.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its holdings in Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after purchasing an additional 490 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after buying an additional 9,510 shares during the period. Prana Capital Management LP grew its stake in Target by 47.5% in the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock valued at $33,834,000 after buying an additional 69,885 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in Target in the 3rd quarter worth $967,000. Finally, Geode Capital Management LLC raised its holdings in Target by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after acquiring an additional 130,691 shares during the period. 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.