Stock Buyback Program Declared by TJX Companies (NYSE:TJX) Board

TJX Companies (NYSE:TJXGet Free Report) announced that its board has initiated a share buyback program on Wednesday, February 28th, RTT News reports. The company plans 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 programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $105.00 target price on shares of TJX Companies in a report on Wednesday. Redburn Atlantic lowered shares of TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price for the company. in a research note on Monday, February 5th. UBS Group increased their target price on shares of TJX Companies from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, November 16th. BMO Capital Markets increased their price target on shares of TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley increased their price target on shares of TJX Companies from $99.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, November 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, TJX Companies has an average rating of “Moderate Buy” and an average price target of $101.38.

Check Out Our Latest Stock Analysis on TJX Companies

TJX Companies Stock Performance

Shares of TJX Companies stock opened at $99.08 on Friday. The firm has a market capitalization of $112.92 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.18 and a beta of 0.86. TJX Companies has a 52 week low of $72.92 and a 52 week high of $102.84. The company has a quick ratio of 0.47, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $95.90 and its two-hundred day moving average is $91.88.

TJX Companies (NYSE:TJXGet Free Report) last announced its earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.20 billion. TJX Companies had a net margin of 7.85% and a return on equity of 62.67%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. Research analysts forecast that TJX Companies will post 3.76 EPS for the current fiscal year.

Insider Transactions at TJX Companies

In related news, CEO Ernie Herrman sold 17,000 shares of TJX Companies stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $89.06, for a total value of $1,514,020.00. Following the transaction, the chief executive officer now directly owns 576,105 shares in the company, valued at approximately $51,307,911.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

TJX Companies Company Profile

(Get Free Report)

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.

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