Target Gaps Higher On A Positive Reaction To Quarterly Earnings

Target Gaps Higher On A Positive Reaction To Quarterly Earnings

(Photo by Scott Olson) Target TGT beat earnings expectations before the opening bell on Tuesday, March 1. Shares gapped higher as the pandemic resulted in an increase in customers. Fourth quarter sales grew by a solid 9%. The big box retailer expects continued growth in the upcoming quarters. The stock closed Monday at $199. 77, down 13. 7% year-to-date and 25. 7% below its November 15 high of $268. 98. It's 39. 3% above its September 8, 2020 low of $143. 38. Target closed Monday at $199. 77 and traded as high as $227. 10 this morning, up 13. 7%. It gapped above its semiannual and monthly pivots at $218. 95 and $223. 08, respectively, and these levels should act as magnets on weakness. Target is reasonably priced. Its p/e ratio is 15. 29% and the company offers a dividend of 1. 81%, according to Macrotrends. The retail giant beat earnings-per-share estimates in 11 consecutive quarters. The Daily Chart for Target Daily Chart for Target Shares of Target were above a golden cross 52 weeks ago. This puts the 50-day simple moving average well above the 200-day simple moving average. This tracked the stock to its November 15 high of