TJX Companies (NYSE:TJX) PT Set at $63.00 by Cowen

TJX Companies (NYSE:TJX) has been given a $63.00 price target by research analysts at Cowen in a report released on Tuesday, June 4th, TipRanks reports. The brokerage currently has a “buy” rating on the apparel and home fashions retailer’s stock. Cowen’s price target points to a potential upside of 19.14% from the stock’s current price.

TJX has been the subject of several other reports. Zacks Investment Research downgraded TJX Companies from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. Morgan Stanley upped their target price on TJX Companies from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Barclays set a $56.00 target price on TJX Companies and gave the stock a “hold” rating in a research report on Thursday, February 28th. Credit Suisse Group upped their target price on TJX Companies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Finally, MKM Partners upped their price target on TJX Companies to $62.00 in a report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $58.34.

Shares of NYSE TJX remained flat at $$52.88 during midday trading on Tuesday. The stock had a trading volume of 6,454,100 shares, compared to its average volume of 6,125,285. TJX Companies has a twelve month low of $41.49 and a twelve month high of $56.64. The stock has a market cap of $64.09 billion, a P/E ratio of 25.06, a PEG ratio of 1.84 and a beta of 0.72. The company has a quick ratio of 0.46, a current ratio of 1.23 and a debt-to-equity ratio of 1.92. The stock has a 50-day simple moving average of $52.36.

TJX Companies (NYSE:TJX) last announced its quarterly earnings data on Tuesday, May 21st. The apparel and home fashions retailer reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.21 billion. TJX Companies had a return on equity of 57.47% and a net margin of 7.69%. TJX Companies’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. As a group, sell-side analysts predict that TJX Companies will post 2.63 earnings per share for the current fiscal year.

In related news, Director David T. Ching sold 20,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $52.20, for a total value of $1,044,000.00. Following the completion of the sale, the director now owns 28,771 shares in the company, valued at $1,501,846.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott Goldenberg sold 37,248 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $53.90, for a total transaction of $2,007,667.20. Following the completion of the sale, the chief financial officer now owns 195,712 shares of the company’s stock, valued at approximately $10,548,876.80. The disclosure for this sale can be found here. Insiders have sold 128,353 shares of company stock valued at $6,915,105 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TJX. BlackRock Inc. lifted its stake in shares of TJX Companies by 113.3% in the fourth quarter. BlackRock Inc. now owns 90,260,028 shares of the apparel and home fashions retailer’s stock valued at $4,038,232,000 after buying an additional 47,939,993 shares during the period. FMR LLC lifted its stake in shares of TJX Companies by 106.0% in the fourth quarter. FMR LLC now owns 51,478,425 shares of the apparel and home fashions retailer’s stock valued at $2,303,144,000 after buying an additional 26,485,840 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of TJX Companies by 13,963.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,176,882 shares of the apparel and home fashions retailer’s stock valued at $585,000 after buying an additional 25,990,744 shares during the period. Bank of New York Mellon Corp raised its position in TJX Companies by 77.9% in the fourth quarter. Bank of New York Mellon Corp now owns 33,050,653 shares of the apparel and home fashions retailer’s stock worth $1,478,686,000 after purchasing an additional 14,469,980 shares in the last quarter. Finally, Norges Bank acquired a new position in TJX Companies in the fourth quarter worth about $545,373,000. Institutional investors and hedge funds own 88.96% of the company’s stock.

About TJX Companies

The TJX Companies, Inc operates as an off-price apparel and home fashions retailer. 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, kids, and gourmet food departments; jewelry and accessories; footwear; and other merchandise.

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Analyst Recommendations for TJX Companies (NYSE:TJX)

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