TJX Companies (NYSE:TJX) Given New $64.00 Price Target at Royal Bank of Canada

TJX Companies (NYSE:TJX) had its price objective increased by Royal Bank of Canada from $48.00 to $64.00 in a research report sent to investors on Friday morning, The Fly reports. Royal Bank of Canada currently has an outperform rating on the apparel and home fashions retailer’s stock.

TJX has been the topic of several other reports. Barclays increased their target price on TJX Companies from $60.00 to $64.00 and gave the company an overweight rating in a research note on Friday. Nomura Instinet boosted their price objective on shares of TJX Companies from $56.00 to $59.00 and gave the company a buy rating in a research report on Monday, May 11th. Guggenheim raised their target price on shares of TJX Companies from $70.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, February 27th. They noted that the move was a valuation call. Nomura Securities decreased their target price on TJX Companies from $58.00 to $56.00 and set a buy rating on the stock in a research note on Tuesday, March 31st. Finally, Credit Suisse Group raised shares of TJX Companies from a neutral rating to an outperform rating and set a $66.00 price objective for the company in a report on Monday, March 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $64.04.

Shares of TJX traded down $0.89 during mid-day trading on Friday, reaching $53.41. The company had a trading volume of 13,418,907 shares, compared to its average volume of 11,063,555. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 2.20. The company has a market capitalization of $65.04 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 4.03 and a beta of 0.70. The firm has a 50-day moving average price of $47.52 and a 200 day moving average price of $55.87. TJX Companies has a 52 week low of $32.72 and a 52 week high of $64.95.

TJX Companies (NYSE:TJX) last released its earnings results on Thursday, May 21st. The apparel and home fashions retailer reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.56). TJX Companies had a return on equity of 31.29% and a net margin of 4.57%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period last year, the firm posted $0.57 earnings per share. The company’s revenue was down 52.5% compared to the same quarter last year. As a group, research analysts forecast that TJX Companies will post 1.28 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of TJX Companies in the 4th quarter valued at $1,612,000. AXA lifted its position in TJX Companies by 0.8% during the fourth quarter. AXA now owns 1,686,809 shares of the apparel and home fashions retailer’s stock valued at $102,997,000 after purchasing an additional 12,582 shares during the period. Brighton Jones LLC boosted its holdings in TJX Companies by 8.9% in the fourth quarter. Brighton Jones LLC now owns 4,546 shares of the apparel and home fashions retailer’s stock valued at $278,000 after purchasing an additional 371 shares during the last quarter. Macquarie Group Ltd. grew its position in TJX Companies by 89.3% during the 4th quarter. Macquarie Group Ltd. now owns 116,510 shares of the apparel and home fashions retailer’s stock worth $7,115,000 after purchasing an additional 54,946 shares during the period. Finally, First American Bank purchased a new position in shares of TJX Companies during the 4th quarter valued at about $2,602,000. Hedge funds and other institutional investors own 88.45% 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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