TJX Companies (NYSE:TJX) Raised to Buy at UBS Group

TJX Companies (NYSE:TJX) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, FinViz reports. The firm currently has a $132.00 price objective on the apparel and home fashions retailer’s stock, up from their previous price objective of $104.00. UBS Group’s target price would suggest a potential upside of 40.75% from the stock’s previous close.

A number of other research analysts have also weighed in on TJX. The Goldman Sachs Group raised shares of TJX Companies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $100.00 to $110.00 in a research report on Thursday, April 25th. Redburn Atlantic downgraded TJX Companies from a “buy” rating to a “neutral” rating and set a $100.00 target price for the company. in a research note on Monday, February 5th. BMO Capital Markets lifted their price target on TJX Companies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $105.00 price objective on shares of TJX Companies in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, TJX Companies presently has a consensus rating of “Moderate Buy” and an average price target of $104.29.

TJX Companies Price Performance

Shares of TJX opened at $93.78 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.21. The firm has a market cap of $106.25 billion, a PE ratio of 24.30, a PEG ratio of 2.42 and a beta of 0.87. TJX Companies has a twelve month low of $75.65 and a twelve month high of $102.84. The firm’s 50 day moving average price is $97.11 and its 200 day moving average price is $94.02.

TJX Companies (NYSE:TJX) last released its quarterly earnings data on Wednesday, February 28th. The apparel and home fashions retailer reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $16.41 billion during the quarter, compared to analyst estimates of $16.20 billion. TJX Companies had a net margin of 8.25% and a return on equity of 64.18%. During the same quarter in the previous year, the business earned $0.89 EPS. TJX Companies’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, research analysts expect that TJX Companies will post 4.07 EPS for the current fiscal year.

TJX Companies declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 28th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the apparel and home fashions retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Louise Greenlees sold 2,694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.83, for a total value of $266,248.02. Following the completion of the sale, the executive vice president now owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Louise Greenlees sold 2,694 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $98.83, for a total transaction of $266,248.02. Following the transaction, the executive vice president now owns 50,273 shares of the company’s stock, valued at $4,968,480.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ernie Herrman sold 20,000 shares of TJX Companies stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $98.98, for a total value of $1,979,600.00. Following the completion of the sale, the chief executive officer now owns 515,801 shares of the company’s stock, valued at $51,053,982.98. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TJX. Kingswood Wealth Advisors LLC bought a new position in TJX Companies during the 3rd quarter worth approximately $193,000. Robeco Institutional Asset Management B.V. boosted its position in shares of TJX Companies by 7.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 176,852 shares of the apparel and home fashions retailer’s stock worth $15,719,000 after purchasing an additional 12,830 shares in the last quarter. Mission Wealth Management LP grew its holdings in shares of TJX Companies by 2.9% in the 3rd quarter. Mission Wealth Management LP now owns 5,296 shares of the apparel and home fashions retailer’s stock valued at $471,000 after buying an additional 149 shares during the period. Simon Quick Advisors LLC increased its position in shares of TJX Companies by 13.0% in the 3rd quarter. Simon Quick Advisors LLC now owns 3,292 shares of the apparel and home fashions retailer’s stock valued at $293,000 after buying an additional 378 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in TJX Companies by 39.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 38,689 shares of the apparel and home fashions retailer’s stock worth $3,439,000 after buying an additional 10,946 shares during the period. 91.09% of the stock is currently owned by institutional investors.

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.