One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Target stock now clears that threshold, with a jump from 67 to 86 Wednesday. The bullseye retail chain has been rallying after posting positive Q4 results. Earnings came in at $2.98 per share, rising 57% vs. $1.89 for the same period a year ago. Sales grew 2% to $31.9 million.
Target announced a paid loyalty program to rival Amazon Prime called Target Circle 360. Members pay annual fee of $99, but will offer a promotional rate of $49 per year to anyone who signs up between April 7 and May 18. Members will receive free two-day shipping on orders as well as unlimited free same-day delivery on orders over $35.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Is Target Stock A Buy?
Target stock is trying to complete the right side of a long and wide cup without handle base with a 181.70 entry. See if the retail stock can clear the breakout price in heavy volume.
The retail chain saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 36% to 58%. Revenue rose from -4% to 2%.
Target stock holds the No. 3 rank among its peers in the Retail-Major Discount Chains industry group. Walmart is the No. 1-ranked stock within the group. For more industry news, check out "Retail Industry News And Stocks To Watch"
