Wells Fargo & Company Forecasts Strong Price Appreciation for TJX Companies (NYSE:TJX) Stock

TJX Companies (NYSE:TJX) had its price objective raised by investment analysts at Wells Fargo & Company from $115.00 to $120.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel and home fashions retailer’s stock. Wells Fargo & Company‘s price target points to a potential downside of 1.51% from the stock’s previous close.

Other research analysts have also issued reports about the company. TD Cowen lifted their target price on TJX Companies from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of TJX Companies from $130.00 to $131.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $134.00 price objective on shares of TJX Companies in a research report on Friday, December 6th. Robert W. Baird lifted their target price on TJX Companies from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, Guggenheim upped their price target on TJX Companies from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.17.

TJX Companies Price Performance

NYSE:TJX opened at $121.84 on Friday. TJX Companies has a 12 month low of $92.20 and a 12 month high of $128.00. The company’s 50-day moving average price is $121.91 and its two-hundred day moving average price is $117.05. The company has a quick ratio of 0.50, a current ratio of 1.19 and a debt-to-equity ratio of 0.35. The firm has a market cap of $136.97 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.91.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data on Wednesday, November 20th. The apparel and home fashions retailer reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.95 billion. TJX Companies had a return on equity of 61.82% and a net margin of 8.63%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. On average, equities analysts anticipate that TJX Companies will post 4.18 EPS for the current fiscal year.

Institutional Investors Weigh In On TJX Companies

Several hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in TJX Companies during the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new position in TJX Companies in the third quarter worth $30,000. Truvestments Capital LLC purchased a new position in shares of TJX Companies in the 3rd quarter worth about $29,000. Copeland Capital Management LLC bought a new position in shares of TJX Companies during the 3rd quarter valued at approximately $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in TJX Companies in the third quarter worth $37,000. 91.09% of the stock is currently owned by institutional investors and hedge funds.

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.