Wells Fargo & Company has increased its price target for TJX Companies from $88.00 to $92.00, according to a research report published on Monday morning. The research firm currently has an equal weight rating on the stock of the apparel and home fashions retailer.
Other equities research analysts have also issued research reports about TJX Companies. Bank of America raised their target price from $94.00 to $102.00 and gave the company a buy rating. Robert W. Baird raised their price target from $90.00 to $96.00 and gave the company an outperform rating. Citigroup raised their price target from $90.00 to $103.00 and also gave the company a buy rating. UBS Group boosted their price objective from $88.00 to $90.00 and gave the stock a neutral rating. JPMorgan Chase & Co. raised their target price from $104.00 to $105.00 and gave the company an overweight rating.
Overall, three analysts have rated the stock as hold, while seventeen have issued a buy rating. The stock currently has a consensus rating of Moderate Buy and a consensus target price of $95.42.
Shares of TJX Companies opened at $93.59 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.56, and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $107.07 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.21, and a beta of 0.89. The business’s 50-day moving average price is $87.80, and its 200-day moving average price is $81.60. TJX Companies has a 12-month low of $59.78 and a 12-month high of $93.78.
TJX Companies reported earnings results on Wednesday, August 16th. The apparel and home fashions retailer reported $0.85 EPS for the quarter, beating the consensus estimate of $0.77 by $0.08. The company had revenue of $12.76 billion for the quarter, compared to analyst estimates of $12.45 billion. TJX Companies had a net margin of 7.77% and a return on equity of 62.61%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. Analysts predict TJX Companies will post 3.71 EPS for the current fiscal year.
In terms of insider transactions, Chairman Carol Meyrowitz sold 64,817 shares of TJX Companies stock on Tuesday, August 29th, at an average price of $91.13, for a total transaction value of $5,906,773.21. Meyrowitz now owns 135,050 shares in the company, valued at $12,307,106.50. EVP Kenneth Canestrari sold 4,197 shares on Wednesday, August 23rd, at an average price of $90.00, for a total value of $377,730.00. Canestrari now owns 115,223 shares in the company, valued at approximately $10,370,070. Insiders have sold 114,014 shares of company stock valued at $10,291,303 over the last three months. Corporate insiders own 0.13% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TJX. Moneta Group Investment Advisors LLC now owns 19,788,543 shares of TJX Companies stock worth $1,575,168,000, having grown its holdings by 90,089.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 16,735,194 shares worth $1,418,977,000 after buying an additional 16,718,231 shares during the last quarter. Morgan Stanley now owns 26,619,778 shares of the company’s stock valued at $2,118,935,000 after buying an additional 12,468,119 shares, a growth of 88.1% during the fourth quarter. Norges Bank purchased a new position with a value of $891,631,000 in the fourth quarter. Lastly, Ontario Teachers Pension Plan Board purchased a new position with a value of $408,331,000 in the first quarter. Approximately 89.28% of the stock is owned by institutional investors and hedge funds.
TJX Companies, Inc. is an off-price apparel and home fashions retailer operating in the United States, Canada, Europe, and Australia. The company sells family apparel, home fashions, jewelry and accessories, and other merchandise.
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