I was at the gunstore today and saw these target stands by a company called The Last Stand. I liked them a lot, they're aluminum, lightweight, and adjustable, exactly what I wanted. But they're $65 each and I want to get three of them, so that's a lot of coin. Anyone know of a similar quality metal stand that takes 2x2 posts that doesn't cost quite as much? If they were like $40 I would have bought them today.

Do you have access to a welder and are a little bit handy?

You can make a stand out of steel for about $10.

I don't have a welder or any welding experience, wish I did.

What about a 2x4 frame with 2" square tubing bolted to the sides

make them out of PVC
Fill with dirt or water if you have high wind (have to cap the ends)
http://bulletin.accurateshooter.com/2009/02/build-a-simple-portable-pvc-target-stand/
OPs target stand
http://www.theboxotruth.com/docs/edu24.htm
http://www.youtube.com/watch?v=eVxJN03qHTU
ETA if you leave one of the joints no glued, you can take it apart