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Target (TGT) closed the latest trading day at $151.30, indicating a -1.01% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.4%.

Heading into today, shares of the retailer had gained 8.28% over the past month, outpacing the Retail-Wholesale sector's gain of 1.3% and the S&P 500's gain of 3.78% in that time.

The investment community will be closely monitoring the performance of Target in its forthcoming earnings report. The company is forecasted to report an EPS of $2.17, showcasing a 20.56% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $25.21 billion, reflecting a 1.75% rise from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.31 per share and a revenue of $106.93 billion, indicating changes of +4.14% and -0.45%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Target. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Target is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Target is holding a Forward P/E ratio of 16.41. This expresses a discount compared to the average Forward P/E of 21.89 of its industry.

One should further note that TGT currently holds a PEG ratio of 1.44. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. TGT's industry had an average PEG ratio of 2.6 as of yesterday's close.

The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.