StockNews.com Upgrades TJX Companies (NYSE:TJX) to Buy

StockNews.com upgraded shares of TJX Companies (NYSE:TJX) from a hold rating to a buy rating in a research note published on Thursday.

A number of other research firms have also weighed in on TJX. Wells Fargo & Company increased their price objective on shares of TJX Companies from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 10th. Morgan Stanley lifted their price target on TJX Companies from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Jefferies Financial Group upped their price objective on TJX Companies from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. UBS Group raised their price target on shares of TJX Companies from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, BMO Capital Markets increased their price target on TJX Companies from $133.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.06.

TJX Companies Price Performance

NYSE TJX opened at $118.06 on Thursday. The firm’s fifty day simple moving average is $121.61 and its two-hundred day simple moving average is $120.22. The firm has a market capitalization of $132.72 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.75 and a beta of 0.96. The company has a current ratio of 1.19, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35. TJX Companies has a 12-month low of $92.35 and a 12-month high of $128.00.

TJX Companies (NYSE:TJX) last announced its earnings results on Wednesday, February 26th. The apparel and home fashions retailer reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.07. The company had revenue of $16.35 billion for the quarter, compared to analyst estimates of $16.24 billion. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. Analysts forecast that TJX Companies will post 4.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ernie Herrman sold 23,428 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the completion of the transaction, the chief executive officer now directly owns 484,189 shares in the company, valued at approximately $59,569,772.67. This represents a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan M. Bennett sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $123.53, for a total transaction of $988,240.00. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On TJX Companies

Several institutional investors and hedge funds have recently modified their holdings of TJX. Bogart Wealth LLC purchased a new stake in TJX Companies during the fourth quarter worth about $25,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of TJX Companies in the fourth quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in TJX Companies during the 3rd quarter worth approximately $30,000. Truvestments Capital LLC purchased a new position in TJX Companies in the 3rd quarter valued at approximately $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of TJX Companies in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.

TJX Companies Company Profile

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.