TJX Companies (NYSE:TJX) Shares Gap Up Following Analyst Upgrade

Shares of TJX Companies Inc (NYSE:TJX) gapped up prior to trading on Friday after Credit Suisse Group raised their price target on the stock from $60.00 to $65.00. The stock had previously closed at $55.00, but opened at $54.30. Credit Suisse Group currently has an outperform rating on the stock. TJX Companies shares last traded at $53.54, with a volume of 994,564 shares traded.

Several other analysts have also recently commented on TJX. Nomura Securities reduced their price objective on shares of TJX Companies from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Morgan Stanley cut shares of TJX Companies to a “hold” rating in a research note on Friday, April 17th. Citigroup raised their price objective on shares of TJX Companies from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital reduced their price objective on shares of TJX Companies from $72.00 to $60.00 in a research note on Friday. Finally, ValuEngine upgraded shares of TJX Companies from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. TJX Companies presently has an average rating of “Buy” and a consensus price target of $64.04.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sugarloaf Wealth Management LLC purchased a new stake in TJX Companies in the fourth quarter valued at approximately $28,000. FSA Wealth Management LLC purchased a new stake in TJX Companies in the fourth quarter valued at approximately $29,000. Lion Street Advisors LLC purchased a new stake in TJX Companies in the first quarter valued at approximately $29,000. Center for Financial Planning Inc. grew its holdings in TJX Companies by 53.9% in the first quarter. Center for Financial Planning Inc. now owns 637 shares of the apparel and home fashions retailer’s stock valued at $30,000 after purchasing an additional 223 shares during the period. Finally, Solstein Capital LLC purchased a new stake in TJX Companies in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 88.45% of the company’s stock.

The business’s fifty day moving average is $47.39 and its 200-day moving average is $55.89. The stock has a market capitalization of $60.91 billion, a PE ratio of 20.15, a P/E/G ratio of 3.78 and a beta of 0.70. The company has a quick ratio of 0.56, a current ratio of 1.24 and a debt-to-equity ratio of 1.69.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Thursday, May 21st. The apparel and home fashions retailer reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.56). The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.92 billion. TJX Companies had a net margin of 7.84% and a return on equity of 59.70%. The company’s quarterly revenue was down 52.5% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. As a group, sell-side analysts anticipate that TJX Companies Inc will post 1.28 EPS for the current fiscal year.

About TJX Companies (NYSE:TJX)

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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