TJX Companies (NYSE:TJX) Rating Increased to Buy at The Goldman Sachs Group

TJX Companies (NYSE:TJX) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has a $110.00 price objective on the apparel and home fashions retailer’s stock, up from their previous price objective of $100.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 14.16% from the company’s previous close.

Several other research analysts have also issued reports on the company. Redburn Atlantic lowered TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price for the company. in a research report on Monday, February 5th. BMO Capital Markets upped their price objective on TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $105.00 price objective on shares of TJX Companies in a report on Wednesday, February 28th. Finally, UBS Group increased their price target on TJX Companies from $95.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.65.

TJX Companies Stock Down 0.1 %

Shares of NYSE TJX opened at $96.36 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.21 and a debt-to-equity ratio of 0.39. The company has a market cap of $109.17 billion, a P/E ratio of 24.96, a P/E/G ratio of 2.45 and a beta of 0.86. TJX Companies has a 52 week low of $75.65 and a 52 week high of $102.84. The business has a 50-day simple moving average of $97.33 and a two-hundred day simple moving average of $93.87.

TJX Companies (NYSE:TJX) last released its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. The company had revenue of $16.41 billion during the quarter, compared to analyst estimates of $16.20 billion. During the same period last year, the business earned $0.89 earnings per share. TJX Companies’s revenue was up 13.0% compared to the same quarter last year. Research analysts anticipate that TJX Companies will post 4.07 earnings per share for the current fiscal year.

TJX Companies announced that its board has initiated a stock repurchase program 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 buy up to 2.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $98.98, for a total value of $1,979,600.00. Following the transaction, the chief executive officer now owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction 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 directly owns 50,273 shares in the company, valued at $4,968,480.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total value of $1,979,600.00. Following the completion of the sale, the chief executive officer now directly owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On TJX Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new stake in shares of TJX Companies during the fourth quarter worth $27,000. Anchor Investment Management LLC acquired a new stake in TJX Companies in the 4th quarter valued at about $28,000. First Pacific Financial acquired a new stake in TJX Companies in the 1st quarter valued at about $29,000. BKM Wealth Management LLC purchased a new position in shares of TJX Companies in the 4th quarter valued at about $30,000. Finally, AlphaMark Advisors LLC grew its position in shares of TJX Companies by 58.4% during the first quarter. AlphaMark Advisors LLC now owns 331 shares of the apparel and home fashions retailer’s stock worth $34,000 after buying an additional 122 shares in the last quarter. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

About TJX Companies

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.