TJX Companies (NYSE:TJX) Stock Rating Upgraded by The Goldman Sachs Group

TJX Companies (NYSE:TJX) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $110.00 target price on the apparel and home fashions retailer’s stock, up from their prior target price of $100.00. The Goldman Sachs Group’s target price indicates a potential upside of 14.16% from the company’s previous close.

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

TJX Companies Stock Performance

Shares of TJX stock opened at $96.36 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21. The firm has a market capitalization of $109.17 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.86. TJX Companies has a one year low of $75.65 and a one year high of $102.84. The company has a 50 day moving average price of $97.33 and a 200 day moving average price 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, topping analysts’ consensus estimates of $1.12 by $0.10. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.20 billion. During the same period in the prior year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that TJX Companies will post 4.07 EPS for the current year.

TJX Companies declared that its board has approved a stock buyback 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 repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at TJX Companies

In other news, EVP Louise Greenlees sold 2,694 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Louise Greenlees sold 2,694 shares of TJX Companies stock in a transaction dated Friday, March 1st. The shares were 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 directly owns 50,273 shares of the company’s stock, valued at approximately $4,968,480.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was 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 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

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