TJX Companies’ (TJX) Buy Rating Reiterated at Morgan Stanley

TJX Companies (NYSE:TJX)‘s stock had its “buy” rating reissued by stock analysts at Morgan Stanley in a research note issued to investors on Monday, AnalystRatings.com reports. They presently have a $62.00 target price on the apparel and home fashions retailer’s stock. Morgan Stanley’s target price points to a potential upside of 3.61% from the stock’s current price.

Several other analysts have also commented on the stock. Robert W. Baird lifted their price objective on shares of TJX Companies from $63.00 to $69.00 and gave the stock a “positive” rating in a research report on Thursday. Barclays initiated coverage on shares of TJX Companies in a research report on Tuesday, November 12th. They set an “overweight” rating and a $66.00 target price for the company. Telsey Advisory Group raised their price target on shares of TJX Companies from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Guggenheim lifted their price target on shares of TJX Companies from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, DA Davidson reaffirmed a “positive” rating and issued a $70.00 price target (up previously from $65.00) on shares of TJX Companies in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $65.32.

Shares of TJX Companies stock opened at $59.84 on Monday. The firm has a market cap of $72.00 billion, a PE ratio of 28.36, a P/E/G ratio of 2.14 and a beta of 0.68. TJX Companies has a 1 year low of $41.49 and a 1 year high of $61.69. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.22 and a quick ratio of 0.40. The stock has a fifty day moving average price of $59.46 and a 200-day moving average price of $55.40.

TJX Companies (NYSE:TJX) last issued its quarterly earnings results on Tuesday, November 19th. The apparel and home fashions retailer reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. The company had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.31 billion. TJX Companies had a net margin of 7.70% and a return on equity of 57.63%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. As a group, equities analysts anticipate that TJX Companies will post 2.63 EPS for the current fiscal year.

In other TJX Companies news, Chairman Carol Meyrowitz sold 74,262 shares of TJX Companies stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $60.55, for a total transaction of $4,496,564.10. Following the completion of the transaction, the chairman now owns 330,679 shares of the company’s stock, valued at approximately $20,022,613.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernie Herrman sold 127,296 shares of TJX Companies stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $60.38, for a total value of $7,686,132.48. Following the transaction, the chief executive officer now directly owns 575,966 shares of the company’s stock, valued at approximately $34,776,827.08. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TJX. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in TJX Companies in the 2nd quarter worth approximately $1,223,000. Asset Management One Co. Ltd. raised its position in TJX Companies by 8.0% in the 2nd quarter. Asset Management One Co. Ltd. now owns 859,536 shares of the apparel and home fashions retailer’s stock worth $45,452,000 after purchasing an additional 63,421 shares during the period. First National Bank of Mount Dora Trust Investment Services purchased a new position in TJX Companies in the 3rd quarter worth $2,419,000. Canada Pension Plan Investment Board lifted its stake in TJX Companies by 20.5% in the second quarter. Canada Pension Plan Investment Board now owns 311,533 shares of the apparel and home fashions retailer’s stock worth $16,474,000 after purchasing an additional 52,969 shares during the last quarter. Finally, Park National Corp OH lifted its stake in TJX Companies by 5.3% in the third quarter. Park National Corp OH now owns 129,448 shares of the apparel and home fashions retailer’s stock worth $7,216,000 after purchasing an additional 6,488 shares during the last quarter. Hedge funds and other institutional investors own 88.79% of the company’s stock.

TJX Companies Company Profile

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, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.

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Analyst Recommendations for TJX Companies (NYSE:TJX)

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