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

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

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

TJX Companies Trading Up 0.8 %

Shares of NYSE TJX opened at $95.28 on Thursday. The company has a market cap of $107.95 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.86. TJX Companies has a 12-month low of $75.65 and a 12-month high of $102.84. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $97.39 and its 200 day simple moving average is $93.80.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.20 billion. TJX Companies had a return on equity of 64.18% and a net margin of 8.25%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. Equities research analysts expect that TJX Companies will post 4.07 EPS for the current year.

TJX Companies announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 28th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the apparel and home fashions retailer to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Ernie Herrman sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value of $1,979,600.00. Following the sale, the chief executive officer now directly owns 515,801 shares in the company, valued at approximately $51,053,982.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Louise Greenlees sold 2,694 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value 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 Inflows and Outflows

Large investors have recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new position in TJX Companies during the 4th quarter worth $27,000. Anchor Investment Management LLC acquired a new position in TJX Companies during the 4th quarter worth $28,000. First Pacific Financial acquired a new position in TJX Companies during the 1st quarter worth $29,000. BKM Wealth Management LLC acquired a new position in shares of TJX Companies in the 4th quarter valued at $30,000. Finally, AlphaMark Advisors LLC lifted its stake in shares of 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. Institutional investors and hedge funds own 91.09% of the company’s stock.

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.