TJX Companies (NYSE:TJX) Raised to “Buy” at The Goldman Sachs Group

TJX Companies (NYSE:TJX) was upgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Thursday, FinViz reports. The brokerage currently has a $110.00 price target on the apparel and home fashions retailer’s stock, up from their previous price target of $100.00. The Goldman Sachs Group’s target price suggests a potential upside of 15.45% from the company’s previous close.

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

TJX Companies Stock Performance

NYSE TJX opened at $95.28 on Thursday. The firm’s fifty day moving average price is $97.39 and its two-hundred day moving average price is $93.80. The stock has a market cap of $107.95 billion, a PE ratio of 24.68, a PEG ratio of 2.43 and a beta of 0.86. TJX Companies has a fifty-two week low of $75.65 and a fifty-two week high of $102.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21.

TJX Companies (NYSE:TJX) last issued its quarterly earnings results 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. The company had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. TJX Companies’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, equities analysts expect that TJX Companies will post 4.07 EPS for the current fiscal year.

TJX Companies declared that its board has authorized a share buyback plan on Wednesday, February 28th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the apparel and home fashions retailer to repurchase up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the completion of the transaction, the chief executive officer now directly owns 515,801 shares of the company’s stock, valued at approximately $51,053,982.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Louise Greenlees sold 2,694 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.83, for a total transaction of $266,248.02. Following the sale, the executive vice president now directly owns 50,273 shares in the company, valued at approximately $4,968,480.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.98, for a total transaction of $1,979,600.00. Following the sale, the chief executive officer now owns 515,801 shares in the company, valued at $51,053,982.98. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Trading of TJX Companies

A number of institutional investors have recently modified their holdings of TJX. Frazier Financial Advisors LLC purchased a new stake in shares of TJX Companies during the 4th quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new stake in TJX Companies in the 4th quarter worth approximately $28,000. First Pacific Financial bought a new position in TJX Companies in the 1st quarter valued at $29,000. BKM Wealth Management LLC bought a new position in TJX Companies in the 4th quarter valued at $30,000. Finally, AlphaMark Advisors LLC boosted 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 valued at $34,000 after purchasing an additional 122 shares during the period. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

About TJX Companies

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.