Telsey Advisory Group Reaffirms Outperform Rating for Target (NYSE:TGT)

Target (NYSE:TGT)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued on Wednesday, Marketbeat reports. They currently have a $195.00 price target on the retailer’s stock. Telsey Advisory Group’s price objective would suggest a potential upside of 60.28% from the stock’s previous close.

TGT has been the subject of several other research reports. TD Cowen raised their price target on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their target price on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Oppenheimer cut their price target on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.13.

Target Stock Performance

Shares of TGT opened at $121.66 on Wednesday. The stock has a 50 day moving average of $151.79 and a 200 day moving average of $149.92. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a market capitalization of $56.05 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.03 and a beta of 1.24.

Target (NYSE:TGT) last released its 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). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.10 earnings per share. As a group, sell-side analysts forecast that Target will post 9.55 earnings per share for the current year.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 12.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TGT. TAP Consulting LLC bought a new position in Target during the 3rd quarter worth approximately $2,403,000. Olstein Capital Management L.P. grew its holdings in shares of Target by 8.7% in the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after purchasing an additional 4,000 shares during the last quarter. Smead Capital Management Inc. increased its stake in shares of Target by 3.4% in the third quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock worth $193,879,000 after buying an additional 41,394 shares during the period. Janus Henderson Group PLC raised its holdings in Target by 20.5% during the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock valued at $38,484,000 after buying an additional 36,941 shares during the last quarter. Finally, Eagle Rock Investment Company LLC boosted its position in Target by 166.3% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock valued at $2,522,000 after buying an additional 10,103 shares during the period. 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.