TJX Companies (NYSE:TJX) Given New $70.00 Price Target at Wells Fargo & Co

TJX Companies (NYSE:TJX) had its price target raised by Wells Fargo & Co from $65.00 to $70.00 in a research note released on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the apparel and home fashions retailer’s stock.

A number of other research firms also recently issued reports on TJX. Deutsche Bank lowered their target price on shares of TJX Companies from $58.00 to $53.00 and set a buy rating for the company in a report on Monday, May 18th. Gordon Haskett raised shares of TJX Companies from a hold rating to a buy rating and set a $75.00 price objective for the company in a research note on Thursday, February 27th. Atlantic Securities upgraded TJX Companies from a neutral rating to an overweight rating and set a $60.00 target price on the stock in a report on Wednesday, April 29th. Guggenheim boosted their price target on TJX Companies from $70.00 to $75.00 and gave the company a buy rating in a research report on Thursday, February 27th. They noted that the move was a valuation call. Finally, Telsey Advisory Group raised their price objective on TJX Companies from $68.00 to $72.00 and gave the stock an outperform rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $64.04.

Shares of TJX stock traded down $0.89 during mid-day trading on Friday, hitting $53.41. 13,418,907 shares of the company’s stock were exchanged, compared to its average volume of 11,063,555. The stock has a market cap of $65.04 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 4.03 and a beta of 0.70. The company has a quick ratio of 0.56, a current ratio of 2.20 and a debt-to-equity ratio of 3.19. TJX Companies has a fifty-two week low of $32.72 and a fifty-two week high of $64.95. The stock has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $55.87.

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

A number of hedge funds have recently bought and sold shares of the business. Adirondack Trust Co. raised its position in shares of TJX Companies by 28.4% in the 4th quarter. Adirondack Trust Co. now owns 745 shares of the apparel and home fashions retailer’s stock valued at $44,000 after purchasing an additional 165 shares in the last quarter. Anderson Fisher LLC increased its stake in shares of TJX Companies by 3.7% in the fourth quarter. Anderson Fisher LLC now owns 5,062 shares of the apparel and home fashions retailer’s stock worth $309,000 after buying an additional 179 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in TJX Companies by 0.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 20,421 shares of the apparel and home fashions retailer’s stock valued at $1,247,000 after acquiring an additional 189 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in TJX Companies by 9.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,182 shares of the apparel and home fashions retailer’s stock valued at $133,000 after acquiring an additional 192 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in TJX Companies by 0.9% during the 4th quarter. Hilltop Holdings Inc. now owns 20,854 shares of the apparel and home fashions retailer’s stock worth $1,273,000 after acquiring an additional 196 shares in the last quarter. 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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Analyst Recommendations for TJX Companies (NYSE:TJX)

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