Several brokerages have updated their recommendations and price targets on shares of Target (NYSE: TGT) in the last few weeks:

  • 3/20/2017 – Target was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Target, which has underperformed the industry in the past six months, has been witnessing a downtrend in estimates post fourth-quarter fiscal 2016 results. After three straight quarters of earnings beat, the company succumbed to a negative earnings surprise in the final quarter. Total sales also fell short of expectations, after surpassing the same in the preceding quarter. Moreover, it continues to decline year over year. The sale of the pharmacy and clinic businesses to CVS Health, stiff competition and sluggish traffic impacted the top line. The dismal performance compelled management to provide a bleak outlook for fiscal 2017. Nevertheless, we believe that the initiatives such as the development of omni-channel capacities, diversification and localization of assortments along with emphasis on flexible format stores, bode well. The company intends to launch new brands and will try to be more competitive in terms of price.”
  • 3/5/2017 – Target had its “market weight” rating reaffirmed by analysts at BMO Capital Markets. They now have a $60.00 price target on the stock, down previously from $74.00.
  • 3/1/2017 – Target was given a new $53.00 price target on by analysts at Goldman Sachs Group Inc. They now have a “sell” rating on the stock.
  • 3/1/2017 – Target had its price target lowered by analysts at Morgan Stanley from $65.00 to $52.00. They now have an “underweight” rating on the stock.
  • 3/1/2017 – Target had its price target lowered by analysts at Cowen and Company to $64.00.
  • 3/1/2017 – Target was downgraded by analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating. They now have a $58.00 price target on the stock, down previously from $78.00.
  • 3/1/2017 – Target had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $56.00 price target on the stock.
  • 3/1/2017 – Target had its price target lowered by analysts at Instinet to $60.00.
  • 3/1/2017 – Target was downgraded by analysts at Wolfe Research from a “peer perform” rating to an “underperform” rating.
  • 3/1/2017 – Target had its price target lowered by analysts at Stifel Nicolaus from $72.00 to $58.00. They now have a “hold” rating on the stock.
  • 3/1/2017 – Target had its price target lowered by analysts at Barclays PLC from $60.00 to $50.00. They now have an “underweight” rating on the stock.
  • 2/28/2017 – Target had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $75.00 price target on the stock.
  • 2/28/2017 – Target had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $72.00 price target on the stock.
  • 2/28/2017 – Target was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $72.43 price target on the stock.
  • 2/20/2017 – Target was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Target reported lackluster performance this holiday season, wherein both the comps and sales fell 1.3% and 4.9%, respectively. The dismal results compelled management to trim fourth quarter and fiscal 2016 view. As a result, the company has witnessed a downtrend in estimates and also underperformed the industry over the past three months. Management stated that the divestment of pharmacy and clinic businesses, sluggish traffic and soft trends witnessed in the beginning of the season hurt the results. This was somewhat compensated by solid Black Friday sales, sturdy digital sales recorded in December and strength across Target’s signature categories. Target now projects comps to decline in the band of 1–1.5% in the final quarter. Nevertheless, we believe that the initiatives such as the development of omni-channel capacities, diversification and localization of assortments along with emphasis on flexible format stores, bode well.”
  • 2/10/2017 – Target is now covered by analysts at Susquehanna Bancshares Inc. They set a “neutral” rating and a $70.00 price target on the stock.
  • 2/9/2017 – Target was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $72.80 price target on the stock.
  • 2/6/2017 – Target is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $77.00 price target on the stock.
  • 1/20/2017 – Target was downgraded by analysts at Credit Suisse Group AG from a “neutral” rating to a “sell” rating. They now have a $67.00 price target on the stock, down previously from $77.00.
  • 1/19/2017 – Target was downgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “sell” rating. They now have a $67.00 price target on the stock, down previously from $77.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/19/2017 – Target had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $77.00 price target on the stock, down previously from $85.00.
  • 1/19/2017 – Target is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $72.00 price target on the stock.
  • 1/19/2017 – Target had its “neutral” rating reaffirmed by analysts at MKM Partners. They now have a $70.00 price target on the stock, down previously from $77.00.

Target Co. (NYSE:TGT) traded up 0.15% on Monday, hitting $54.37. 8,353,335 shares of the company were exchanged. The firm’s 50 day moving average is $61.35 and its 200 day moving average is $68.61. The company has a market capitalization of $30.05 billion, a P/E ratio of 11.58 and a beta of 0.63. Target Co. has a 52 week low of $53.94 and a 52 week high of $84.14.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, February 28th. The retailer reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.51 by $0.06. Target had a net margin of 4.75% and a return on equity of 25.18%. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.76 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Target Co. will post $4.00 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 17th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a yield of 4.42%. Target’s payout ratio is 42.93%.

In other Target news, Director Donald R. Knauss acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were purchased at an average price of $54.86 per share, for a total transaction of $548,600.00. Following the completion of the purchase, the director now directly owns 16,431 shares of the company’s stock, valued at $901,404.66. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cathy R. Smith acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was acquired at an average price of $58.95 per share, for a total transaction of $294,750.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 19,000 shares of company stock worth $1,073,750 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.

5 Day Chart for NYSE:TGT

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