NEW YORK (TheStreet) --Target Corp. (TGT) - Get Report will begin matching its online prices with over two dozen online competitors including Amazon.com (AMZN) - Get Report and Walmart (WMT) - Get Report , the Associated Press reports. The price matching initiative will begin on Thursday.
Previously, Target, a Minneapolis-based retail giant, had only matched prices at its own stores. The company is also allowing customers 14 days to receive a price adjustment, up from its previous seven day period.
This latest move is apart of Target's plan to give its e-commerce business a boost, which gained by 30% in the previous quarter, the AP noted.
Other changes Target implemented include free shipping with no minimum amount for the last holiday season and permanently decreasing its free shipping minimum to $25 from $50.
"These are simple changes, but they mean a lot for our guests," Target.com president Jason Goldberger said at a recent meeting, AP added.
Shares of Target closed at $77.98 on Tuesday afternoon.
Separately, TheStreet Ratings team rates TARGET CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
We rate TARGET CORP (TGT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows low profit margins.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
- TARGET CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, TARGET CORP increased its bottom line by earning $3.82 versus $3.07 in the prior year. This year, the market expects an improvement in earnings ($4.72 versus $3.82).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Multiline Retail industry. The net income increased by 220.4% when compared to the same quarter one year prior, rising from $235.00 million to $753.00 million.
- Despite its growing revenue, the company underperformed as compared with the industry average of 7.4%. Since the same quarter one year prior, revenues slightly increased by 2.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The debt-to-equity ratio is somewhat low, currently at 0.91, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels.
- You can view the full analysis from the report here: TGT