Target (TGT) Ascends While Market Falls: Some Facts to Note

Target (TGT) ended the recent trading session at $119.84, demonstrating a +2.43% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.67% for the day. On the other hand, the Dow registered a loss of 1.73%, and the technology-centric Nasdaq decreased by 2.15%.

Prior to today's trading, shares of the retailer had gained 1.93% outpaced the Retail-Wholesale sector's loss of 4.2% and the S&P 500's loss of 6.15%.

The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. In that report, analysts expect Target to post earnings of $1.34 per share. This would mark year-over-year growth of 3.08%. In the meantime, our current consensus estimate forecasts the revenue to be $24.26 billion, indicating a 1.72% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.04 per share and a revenue of $106.78 billion, indicating changes of +6.21% and +1.91%, respectively, from the former year.

Any recent changes to analyst estimates for Target should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.42% higher. Right now, Target possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Target has a Forward P/E ratio of 14.56 right now. For comparison, its industry has an average Forward P/E of 28.42, which means Target is trading at a discount to the group.

We can additionally observe that TGT currently boasts a PEG ratio of 4.87. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Retail - Discount Stores industry stood at 2.94 at the close of the market yesterday.

The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 31% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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