TJX Companies (NYSE: TJX – Get a rating) saw its target price raised by Morgan Stanley analysts from $75.00 to $77.00 in a research note released Thursday, Benzinga reports. The company currently has an “overweight” rating on shares of the clothing and home fashion retailer. Morgan Stanley’s price target indicates a potential upside of 14.04% from the company’s previous close.
Several other stock analysts have also published reports on the company. Cowen raised his price target on TJX companies from $72.00 to $77.00 in a research note on Thursday. JPMorgan Chase & Co. cut its price target on TJX companies from $81.00 to $76.00 in a Monday, May 16 report. Robert W. Baird raised his price target on TJX Companies from $74.00 to $77.00 in a report released Thursday. Goldman Sachs Group launched coverage on TJX companies in a Tuesday, August 2 report. They set a “neutral” rating and a price target of $70.00 for the company. Finally, Gordon Haskett downgraded TJX Companies from a “buy” rating to a “hold” rating and lowered their price target for the company from $67.00 to $60.00 in a Thursday, July 28 report. Six investment analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to MarketBeat.com, TJX Companies currently has a “Moderate Buy” consensus rating and an average target price of $77.00.
TJX companies are trading down 1.5%
TJX lost $1.02 during Thursday’s trading, hitting $67.52. The company’s stock had a trading volume of 93,586 shares, compared to an average trading volume of 5,142,433 shares. TJX Companies has a 12-month low of $53.69 and a 12-month high of $77.35. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt ratio of 0.60. The stock’s fifty-day moving average price is $60.41 and its 200-day moving average price is $62.16. The company has a market capitalization of $79.11 billion, a P/E ratio of 24.59, a PEG ratio of 2.04 and a beta of 0.92.
TJX Companies (NYSE: TJX – Get a rating) last released its quarterly results on Wednesday, August 17. The homewear 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 posted a return on equity of 61.28% and a net margin of 6.69%. 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 decreased by 1.9% compared to the same quarter last year. Analysts expect TJX Companies to post EPS of 3.12 for the current 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 stock was sold at an average price of $62.25, for a total value of $2,925,563.25. Following the transaction, the executive vice president now directly owns 104,127 shares of the company, valued at approximately $6,481,905.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Company insiders own 0.19% of the company’s shares.
Hedge funds weigh on TJX companies
Several institutional investors have recently changed their stake in the company. Centiva Capital LP bought a new stock position in TJX Companies during Q2 valued at approximately $217,000. International Assets Investment Management LLC increased its position in shares of TJX Companies by 32.8% during the second quarter. International Assets Investment Management LLC now owns 6,995 shares of the apparel and home fashion retailer valued at $391,000 after buying an additional 1,727 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of TJX Companies by 318.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 3,450 shares of the apparel and home fashion retailer valued at $193,000 after buying an additional 2,626 shares in the last quarter. National Pension Service increased its position in TJX Companies by 6.5% during the second quarter. National Pension Service now owns 1,770,191 shares of the homewear and fashion retailer’s stock worth $98,865,000 after acquiring an additional 107,309 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its position in TJX Companies by 2.2% during the second quarter. First Republic Investment Management Inc. now owns 1,613,353 shares of the apparel and home fashion retailer worth $90,106,000 after acquiring 34,383 additional shares in the last quarter. 91.45% of the shares are currently held by institutional investors.
Company Profile TJX Companies
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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