Cowen Boosts TJX Companies (NYSE:TJX) Price Target to $71.00

TJX Companies (NYSE:TJX) had its price target increased by equities research analysts at Cowen from $64.00 to $71.00 in a research note issued on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the apparel and home fashions retailer’s stock. Cowen’s price objective suggests a potential upside of 17.63% from the stock’s previous close.

Several other equities analysts have also commented on TJX. Wells Fargo & Co reaffirmed a “hold” rating on shares of TJX Companies in a report on Monday. Robert W. Baird upped their target price on shares of TJX Companies from $63.00 to $69.00 and gave the stock a “positive” rating in a research report on Thursday, December 5th. Zacks Investment Research upgraded TJX Companies from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Wednesday, November 20th. Citigroup raised their target price on TJX Companies from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada began coverage on TJX Companies in a research report on Monday, November 11th. They set a “sector perform” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.32.

Shares of TJX opened at $60.36 on Monday. TJX Companies has a 12 month low of $41.49 and a 12 month 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 $59.44 and a 200 day moving average price of $55.51. The company has a market cap of $72.00 billion, a P/E ratio of 28.61, a PEG ratio of 2.14 and a beta of 0.68.

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

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

Large investors have recently added to or reduced their stakes in the business. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of TJX Companies during the 2nd quarter valued at $1,223,000. Asset Management One Co. Ltd. increased its stake in shares of TJX Companies by 8.0% in the second 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 acquiring an additional 63,421 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new position in TJX Companies in the 3rd quarter worth about $2,419,000. Canada Pension Plan Investment Board increased its holdings 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 buying 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 valued at $7,216,000 after acquiring an additional 6,488 shares during the last quarter. 88.79% of the stock is currently owned by institutional investors.

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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The Fly

Analyst Recommendations for TJX Companies (NYSE:TJX)

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