TJX Companies (NYSE:TJX) Price Target Raised to $110.00

TJX Companies (NYSE:TJXFree Report) had its price objective boosted by BMO Capital Markets from $95.00 to $110.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the apparel and home fashions retailer’s stock.

Several other equities research analysts have also issued reports on TJX. Telsey Advisory Group reaffirmed an outperform rating and set a $105.00 price target on shares of TJX Companies in a research note on Wednesday. Evercore ISI started coverage on TJX Companies in a research note on Tuesday, November 7th. They set an outperform rating and a $105.00 price target for the company. Redburn Atlantic lowered TJX Companies from a buy rating to a neutral rating and set a $100.00 price target for the company. in a research note on Monday, February 5th. UBS Group boosted their target price on TJX Companies from $90.00 to $91.00 and gave the company a neutral rating in a research note on Thursday, November 16th. Finally, Morgan Stanley boosted their target price on TJX Companies from $99.00 to $101.00 and gave the company an overweight rating in a research note on Thursday, November 16th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $102.19.

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TJX Companies Price Performance

TJX Companies stock opened at $98.51 on Thursday. TJX Companies has a 52 week low of $72.92 and a 52 week high of $102.84. The business has a 50-day simple moving average of $96.03 and a 200 day simple moving average of $92.01. The company has a quick ratio of 0.47, a current ratio of 1.21 and a debt-to-equity ratio of 0.39. The stock has a market cap of $112.27 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 2.19 and a beta of 0.86.

TJX Companies (NYSE:TJXGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The firm had revenue of $16.41 billion during the quarter, compared to analyst estimates of $16.20 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. On average, research analysts forecast that TJX Companies will post 4.05 earnings per share for the current fiscal year.

TJX Companies declared that its board has approved a share repurchase plan on Wednesday, February 28th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the apparel and home fashions retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at TJX Companies

In other TJX Companies news, EVP Louise Greenlees sold 2,694 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $98.83, for a total transaction of $266,248.02. Following the completion of the transaction, the executive vice president now owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the transaction, the executive vice president now owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ernie Herrman sold 17,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $89.06, for a total value of $1,514,020.00. Following the completion of the transaction, the chief executive officer now directly owns 576,105 shares of the company’s stock, valued at approximately $51,307,911.30. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Penobscot Investment Management Company Inc. increased its position in TJX Companies by 35.5% during the 3rd quarter. Penobscot Investment Management Company Inc. now owns 73,466 shares of the apparel and home fashions retailer’s stock valued at $6,530,000 after buying an additional 19,236 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its position in TJX Companies by 109.1% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 148,954 shares of the apparel and home fashions retailer’s stock valued at $13,239,000 after buying an additional 77,711 shares in the last quarter. Geode Capital Management LLC increased its position in TJX Companies by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 21,447,146 shares of the apparel and home fashions retailer’s stock valued at $1,813,329,000 after buying an additional 555,639 shares in the last quarter. United Services Automobile Association increased its position in TJX Companies by 11.3% during the 3rd quarter. United Services Automobile Association now owns 29,056 shares of the apparel and home fashions retailer’s stock valued at $2,582,000 after buying an additional 2,939 shares in the last quarter. Finally, Prudential PLC increased its position in TJX Companies by 7.9% during the 3rd quarter. Prudential PLC now owns 114,250 shares of the apparel and home fashions retailer’s stock valued at $10,155,000 after buying an additional 8,319 shares in the last quarter. Institutional investors own 89.28% of the company’s stock.

TJX Companies Company Profile

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The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, and gourmet food departments; jewelry and accessories; and other merchandise.

Further Reading

Analyst Recommendations for TJX Companies (NYSE:TJX)

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