Royal Bank of Canada Increases TJX Companies (TJX) Price Target to $52.00

TJX Companies (NYSE:TJX) had its price objective boosted by investment analysts at Royal Bank of Canada to $52.00 in a research report issued on Wednesday, The Fly reports. The brokerage presently has an “in-line” rating on the apparel and home fashions retailer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.65% from the company’s previous close.

Other research analysts also recently issued reports about the company. Guggenheim reaffirmed a “buy” rating on shares of TJX Companies in a research note on Tuesday, August 21st. Buckingham Research increased their price objective on TJX Companies from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Deutsche Bank increased their price objective on TJX Companies from $50.00 to $52.50 and gave the stock a “buy” rating in a research note on Monday, August 20th. Citigroup increased their price objective on TJX Companies from $48.00 to $55.50 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Finally, Cowen reissued a “buy” rating and issued a $57.00 price objective on shares of TJX Companies in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $53.19.

TJX stock opened at $46.16 on Wednesday. TJX Companies has a fifty-two week low of $35.22 and a fifty-two week high of $56.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.77 and a current ratio of 1.64. The company has a market cap of $57.94 billion, a P/E ratio of 22.85, a PEG ratio of 1.68 and a beta of 0.65.

TJX Companies (NYSE:TJX) last posted its quarterly earnings results on Tuesday, November 20th. The apparel and home fashions retailer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. TJX Companies had a return on equity of 59.87% and a net margin of 7.98%. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.50 billion. During the same period in the prior year, the business earned $1.00 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that TJX Companies will post 2.56 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its holdings in shares of TJX Companies by 280.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,114 shares of the apparel and home fashions retailer’s stock valued at $106,000 after acquiring an additional 821 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of TJX Companies in the second quarter valued at approximately $106,000. Atlas Capital Advisors LLC bought a new position in shares of TJX Companies in the third quarter valued at approximately $107,000. Capital Guardian Trust Co. bought a new position in shares of TJX Companies in the third quarter valued at approximately $109,000. Finally, City Holding Co. bought a new position in shares of TJX Companies in the second quarter valued at approximately $114,000. 45.09% of the stock is owned by institutional investors.

About TJX Companies

The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. 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, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.

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