Cowen Raises TJX Companies (NYSE:TJX) Price Target to $77.00


TJX Companies (NYSE: TJXGet a rating) saw its price target raised by Cowen stock research analysts from $72.00 to $77.00 in a research note released Thursday, Fly reports. The brokerage currently has an “outperform” rating on shares of the clothing and home fashion retailer. Cowen’s price target indicates upside potential of 15.96% from the current stock price.

TJX has been the subject of several other reports. Gordon Haskett downgraded shares of TJX Companies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $67.00 to $60.00 in a report Thursday, July 28 . Robert W. Baird raised his price target on TJX Companies stock from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday. TheStreet downgraded shares of TJX Companies from a “b” rating to a “c+” rating in a Wednesday, May 18 research note. JPMorgan Chase & Co. lowered its price target on shares of TJX Companies from $81.00 to $76.00 in a Monday, May 16 research note. To finish, StockNews.com downgraded shares of TJX Companies from a “buy” rating to a “hold” rating in a Thursday, July 28 research note. Six research analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.85.

Stock Performance of TJX Companies

Shares of TJX Stock opened at $66.40 on Thursday. The company’s 50-day moving average is $60.70 and its 200-day moving average is $62.09. The company has a quick ratio of 0.55, a current ratio of 1.17 and a debt ratio of 0.53. TJX Companies has a 52-week low of $53.69 and a 52-week high of $77.35. The company has a market capitalization of $77.80 billion, a price-earnings ratio of 23.71, a PEG ratio of 2.12 and a beta of 0.92.

TJX Companies (NYSE: TJXGet a rating) last released its quarterly results on Wednesday, August 17. The home apparel and fashion retailer reported earnings per share (EPS) of $0.69 for the quarter, beating the consensus estimate of $0.67 by $0.02. TJX Companies had a net margin of 6.77% and a return on equity of 61.19%. The company posted revenue of $11.84 billion for the quarter, versus analyst estimates of $12.05 billion. In the same period a year earlier, the company earned earnings per share of $0.79. The company’s revenue for the quarter was down 1.9% year over year. On average, sell-side analysts expect TJX companies to post 3.08 EPS for the current fiscal year.

Insiders place their bets

In other TJX Companies news, EVP Richard Sherr sold 46,997 shares of the company in a transaction dated Friday, June 3. The shares were sold at an average price of $62.25, for a total value of $2,925,563.25. Following the completion of the transaction, the executive vice president now owns 104,127 shares of the company, valued at $6,481,905.75. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. Insiders hold 0.19% of the company’s shares.

Institutional entries and exits

A number of large investors have recently changed their holdings in the company. Envestnet Asset Management Inc. increased its stake in shares of TJX Companies by 0.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,149,160 shares of the clothing and home fashion retailer worth $87,244,000 after buying 6,862 additional shares last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of TJX Companies during the fourth quarter worth approximately $240,000. Ameritas Advisory Services LLC purchased a new stake in shares of TJX Companies during the fourth quarter at a value of approximately $286,000. Pinnacle Private Wealth LLC purchased a new stake in shares of TJX Companies during the fourth quarter for a value of approximately $282,000. Finally, PAX Financial Group LLC purchased a new stake in shares of TJX Companies during the fourth quarter worth approximately $303,000. Institutional investors and hedge funds own 91.45% of the company’s shares.

Company Profile TJX Companies

(Get a rating)

The TJX Companies, Inc., together with its subsidiaries, operates as a low-cost home fashion and apparel retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. The company sells family clothing, including shoes and accessories; home fashion items, such as home staples, furniture, rugs, lighting products, giftware, home products, decorative accessories, table tops and kitchen utensils, as well as expanded departments for pets, children and gourmet foods; jewelry and accessories; and other goods.

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