JPMorgan Chase & Co. Forecasts Strong Price Appreciation for TJX Companies (NYSE:TJX) Stock

TJX Companies (NYSE:TJX) had its price objective increased by analysts at JPMorgan Chase & Co. from $130.00 to $145.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the apparel and home fashions retailer’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 14.62% from the company’s previous close.

A number of other research firms have also recently issued reports on TJX. Citigroup raised TJX Companies from a “neutral” rating to a “buy” rating in a report on Wednesday, May 21st. Wall Street Zen upgraded TJX Companies from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Telsey Advisory Group reissued an “outperform” rating and set a $145.00 price target on shares of TJX Companies in a research report on Wednesday, May 21st. Wells Fargo & Company reiterated an “equal weight” rating on shares of TJX Companies in a research note on Wednesday, May 21st. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of TJX Companies in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $141.53.

TJX Companies Stock Down 0.3%

Shares of TJX Companies stock traded down $0.39 during trading on Monday, hitting $126.51. 717,144 shares of the stock traded hands, compared to its average volume of 5,454,552. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 1.19. TJX Companies has a twelve month low of $103.70 and a twelve month high of $135.85. The company has a fifty day moving average price of $126.88 and a two-hundred day moving average price of $123.88. The stock has a market cap of $141.32 billion, a P/E ratio of 29.77, a PEG ratio of 2.75 and a beta of 0.94.

TJX Companies (NYSE:TJX) last announced its quarterly earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $13.11 billion for the quarter, compared to analyst estimates of $13.01 billion. TJX Companies had a net margin of 8.63% and a return on equity of 61.82%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. Equities research analysts predict that TJX Companies will post 4.18 EPS for the current fiscal year.

Insider Buying and Selling at TJX Companies

In other TJX Companies news, CEO Ernie Herrman sold 23,428 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $123.03, for a total transaction of $2,882,346.84. Following the completion of the transaction, the chief executive officer now owns 484,189 shares of the company’s stock, valued at $59,569,772.67. This trade represents a 4.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On TJX Companies

Several institutional investors have recently modified their holdings of the business. Modern Wealth Management LLC raised its holdings in TJX Companies by 18.8% during the first quarter. Modern Wealth Management LLC now owns 10,869 shares of the apparel and home fashions retailer’s stock worth $1,324,000 after purchasing an additional 1,718 shares in the last quarter. Jones Financial Companies Lllp lifted its position in TJX Companies by 12.3% in the first quarter. Jones Financial Companies Lllp now owns 342,354 shares of the apparel and home fashions retailer’s stock valued at $41,172,000 after acquiring an additional 37,410 shares during the last quarter. Strs Ohio purchased a new stake in TJX Companies in the first quarter valued at $49,150,000. Jacobi Capital Management LLC boosted its stake in TJX Companies by 1.9% in the first quarter. Jacobi Capital Management LLC now owns 9,778 shares of the apparel and home fashions retailer’s stock valued at $1,191,000 after acquiring an additional 186 shares in the last quarter. Finally, Advisors Capital Management LLC grew its holdings in shares of TJX Companies by 1.3% during the first quarter. Advisors Capital Management LLC now owns 450,140 shares of the apparel and home fashions retailer’s stock worth $54,827,000 after purchasing an additional 5,813 shares during the last quarter. 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.