KeyBanc Capital Markets slashes price target on Target Corporation [TGT] – find out why.

Target Corporation [NYSE: TGT] loss -0.52% or -0.86 points to close at $165.38 with a heavy trading volume of 3593347 shares. The company report on September 12, 2022 that Target Announces Exclusive Multiyear Agreement with FAO Schwarz Ahead of Holiday Season.

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Additionally, retailer’s Top Toys list, presented this year by FAO Schwarz, features 50 of the most anticipated holiday toys and games from must-have brands available at Target.

Exclusive FAO Schwarz toys will be available only at Target stores, and FAO store locations starting in October.

It opened the trading session at $167.86, the shares rose to $168.88 and dropped to $163.40, the range by which the price of stock traded the whole day. The daily chart for TGT points out that the company has recorded -23.20% loss over the past six months. However, it is still -20.57% lower than its most recent low trading price.

If we look at the average trading volume of 4.20M shares, TGT reached to a volume of 3593347 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Target Corporation [TGT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TGT shares is $191.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TGT stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for Target Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 14, 2022. While these analysts kept the previous recommendation, Truist raised their target price from $150 to $165. The new note on the price target was released on August 18, 2022, representing the official price target for Target Corporation stock. Previously, the target price had yet another drop from $231 to $223, while RBC Capital Mkts kept a Outperform rating on TGT stock. On August 18, 2022, analysts increased their price target for TGT shares from 190 to 200.

The Average True Range (ATR) for Target Corporation is set at 5.10, with the Price to Sales ratio for TGT stock in the period of the last 12 months amounting to 0.70. The Price to Book ratio for the last quarter was 7.21, with the Price to Cash per share for the same quarter was set at 2.43.

Trading performance analysis for TGT stock

Target Corporation [TGT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.17. With this latest performance, TGT shares dropped by -4.62% in over the last four-week period, additionally sinking by -23.20% over the last 6 months – not to mention a drop of -31.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGT stock in for the last two-week period is set at 49.20, with the RSI for the last a single of trading hit 46.28, and the three-weeks RSI is set at 50.11 for Target Corporation [TGT]. The present Moving Average for the last 50 days of trading for this stock 161.73, while it was recorded at 170.20 for the last single week of trading, and 196.39 for the last 200 days.

Target Corporation [TGT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Target Corporation [TGT] shares currently have an operating margin of +8.52 and a Gross Margin at +27.07. Target Corporation’s Net Margin is presently recorded at +6.55.

Return on Equity for this stock inclined to 50.95, with Return on Assets sitting at 13.22.

Target Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.80.

Target Corporation [TGT]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TGT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Target Corporation go to 19.59%.

An analysis of insider ownership at Target Corporation [TGT]

There are presently around $60,163 million, or 80.60% of TGT stock, in the hands of institutional investors. The top three institutional holders of TGT stocks are: VANGUARD GROUP INC with ownership of 42,475,475, which is approximately -1.8% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 38,655,391 shares of the stock with an approximate value of $6.39 billion in TGT stocks shares; and STATE STREET CORP, currently with $5.51 billion in TGT stock with ownership of nearly -6.761% of the company’s market capitalization.

Positions in Target Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 996 institutional holders increased their position in Target Corporation [NYSE:TGT] by around 36,815,597 shares. Additionally, 1,083 investors decreased positions by around 41,620,562 shares, while 210 investors held positions by with 285,348,516 shares. The mentioned changes placed institutional holdings at 363,784,675 shares, according to the latest SEC report filing. TGT stock had 162 new institutional investments in for a total of 4,843,924 shares, while 325 institutional investors sold positions of 7,314,991 shares during the same period.


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