Credit Suisse Group assumed coverage on shares of TJX Companies (NYSE:TJX) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $85.00 target price on the apparel and home fashions retailer’s stock.
Several other equities analysts also recently commented on the company. Wells Fargo & Co downgraded TJX Companies from an outperform rating to a market perform rating and dropped their target price for the company from $76.00 to $72.00 in a research report on Wednesday, January 3rd. Guggenheim restated a buy rating and set a $86.00 price objective on shares of TJX Companies in a research report on Friday, December 15th. Zacks Investment Research downgraded TJX Companies from a buy rating to a hold rating in a research report on Monday, January 22nd. Royal Bank of Canada set a $70.00 price objective on TJX Companies and gave the stock an outperform rating in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group downgraded TJX Companies from a conviction-buy rating to a buy rating and set a $79.00 price objective for the company. in a research report on Tuesday, December 5th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. TJX Companies presently has an average rating of Buy and a consensus price target of $87.30.
TJX Companies (TJX) opened at $81.88 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.66 and a quick ratio of 0.84. The company has a market capitalization of $51,770.00, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.67. TJX Companies has a 1 year low of $66.44 and a 1 year high of $84.79.
TJX Companies announced that its board has approved a stock repurchase program on Wednesday, February 28th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the apparel and home fashions retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other TJX Companies news, CEO Ernie Herrman sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $84.00, for a total value of $840,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy B. Lane sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $82.81, for a total value of $82,810.00. Following the completion of the sale, the director now directly owns 15,998 shares of the company’s stock, valued at approximately $1,324,794.38. The disclosure for this sale can be found here. Insiders have sold 65,020 shares of company stock valued at $5,446,635 in the last ninety days. 0.23% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in TJX. Zions Bancorporation boosted its position in shares of TJX Companies by 185.9% during the third quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock valued at $100,000 after buying an additional 883 shares during the last quarter. Farmers National Bank purchased a new position in shares of TJX Companies during the fourth quarter valued at approximately $106,000. Icon Wealth Partners LLC purchased a new position in shares of TJX Companies during the fourth quarter valued at approximately $109,000. Truewealth LLC purchased a new position in shares of TJX Companies during the fourth quarter valued at approximately $119,000. Finally, Assetmark Inc. boosted its position in shares of TJX Companies by 50.3% during the fourth quarter. Assetmark Inc. now owns 1,983 shares of the apparel and home fashions retailer’s stock valued at $152,000 after buying an additional 664 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors.
About TJX Companies
The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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