Target parameter estimation in active sensing, and particularly radar signal processing, is a long-standing problem that has been studied extensively. In this paper, we propose a novel approach for target parameter estimation in cases where one-bit analog-to-digital-converters (ADCs), also known as signal comparators with time-varying thresholds, are employed to sample the received radar signal instead of high-resolution ADCs. The considered problem has potential applications in the design of inexpensive radar and sensing devices in civilian applications, and can likely pave the way for future radar systems employing low-resolution ADCs for faster sampling and high-resolution target determination. We formulate the target estimation as a multivariate weighted-least-squares optimization problem that can be solved in a cyclic manner. Numerical results are provided to exhibit the effectiveness of the proposed algorithms.