Telsey Advisory Group Reaffirms Outperform Rating for TJX Companies (NYSE:TJX)

TJX Companies (NYSE:TJX)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $170.00 price target on the apparel and home fashions retailer’s stock. Telsey Advisory Group’s target price would indicate a potential upside of 8.45% from the stock’s current price.

A number of other brokerages also recently issued reports on TJX. TD Cowen reissued a “buy” rating on shares of TJX Companies in a research report on Thursday, November 20th. Morgan Stanley reissued an “overweight” rating and issued a $162.00 price target (up from $159.00) on shares of TJX Companies in a research note on Thursday, November 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $170.00 price objective on shares of TJX Companies in a research report on Tuesday, January 6th. Robert W. Baird set a $168.00 target price on TJX Companies in a research note on Wednesday, December 17th. Finally, Bank of America upped their price target on TJX Companies from $150.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-two have assigned a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $163.86.

TJX Companies Stock Up 1.5%

Shares of NYSE:TJX opened at $156.76 on Wednesday. The stock’s 50-day moving average is $154.53 and its 200 day moving average is $146.32. The company has a market cap of $174.08 billion, a PE ratio of 34.60, a P/E/G ratio of 2.95 and a beta of 0.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 0.43. TJX Companies has a 1 year low of $112.10 and a 1 year high of $159.48.

TJX Companies (NYSE:TJX) last issued its quarterly earnings data on Wednesday, November 19th. The apparel and home fashions retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $15.12 billion for the quarter, compared to analyst estimates of $14.80 billion. TJX Companies had a return on equity of 58.30% and a net margin of 8.68%.The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. Sell-side analysts anticipate that TJX Companies will post 4.18 EPS for the current year.

Insider Buying and Selling at TJX Companies

In other news, CEO Ernie Herrman sold 24,363 shares of TJX Companies stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $151.31, for a total value of $3,686,365.53. Following the completion of the transaction, the chief executive officer owned 510,780 shares of the company’s stock, valued at $77,286,121.80. The trade was a 4.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane sold 500 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $151.40, for a total transaction of $75,700.00. Following the sale, the director directly owned 22,212 shares in the company, valued at $3,362,896.80. This trade represents a 2.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,863 shares of company stock worth $8,226,366 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On TJX Companies

Institutional investors and hedge funds have recently made changes to their positions in the company. City National Bank of Florida MSD increased its holdings in shares of TJX Companies by 11.2% in the 4th quarter. City National Bank of Florida MSD now owns 3,629 shares of the apparel and home fashions retailer’s stock worth $557,000 after purchasing an additional 365 shares in the last quarter. Clough Capital Partners L P purchased a new stake in shares of TJX Companies during the fourth quarter valued at $2,643,000. Boothbay Fund Management LLC increased its holdings in TJX Companies by 148.7% in the 4th quarter. Boothbay Fund Management LLC now owns 2,378 shares of the apparel and home fashions retailer’s stock worth $365,000 after buying an additional 1,422 shares in the last quarter. BNB Wealth Management LLC purchased a new position in TJX Companies in the 4th quarter worth about $272,000. Finally, Ballast Financial Advisors LLC bought a new position in TJX Companies during the 4th quarter valued at about $312,000. Institutional investors own 91.09% of the company’s stock.

TJX Companies Company Profile

TJX Companies, Inc is a leading off-price retailer of apparel, footwear, home fashions and other consumer goods. The company operates multiple retail concepts that offer discounted brand-name and designer merchandise, including well-known banners such as T.J. Maxx and Marshalls in the United States, HomeGoods for home furnishings, TK Maxx in parts of Europe, and Winners and Homesense in Canada. Merchandise categories span women’s, men’s and children’s apparel, accessories, beauty, home décor, kitchenware and small furniture, with frequent changes in assortment that create a “treasure-hunt” shopping experience for consumers.

The company’s business model centers on opportunistic buying, purchasing excess, irregular or out-of-season inventory from manufacturers, department stores and other suppliers, and passing savings to customers through lower prices.