Goldman Sachs Group Inc Upgrades TJX Companies Inc (TJX) to Conviction-Buy

TJX Companies Inc (NYSE:TJX) was upgraded by equities research analysts at Goldman Sachs Group Inc from a “buy” rating to a “conviction-buy” rating in a note issued to investors on Thursday. The firm presently has a $97.00 target price on the apparel and home fashions retailer’s stock. Goldman Sachs Group Inc’s price target suggests a potential upside of 22.44% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Wedbush reissued an “outperform” rating and issued a $85.00 target price (up previously from $84.00) on shares of TJX Companies in a research note on Sunday, December 4th. Stifel Nicolaus lowered their target price on TJX Companies from $92.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, November 16th. Royal Bank of Canada lowered their target price on TJX Companies from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, November 16th. Credit Suisse Group AG reissued a “neutral” rating and issued a $70.00 target price on shares of TJX Companies in a research note on Tuesday, December 6th. Finally, Jefferies Group LLC set a $80.00 target price on TJX Companies and gave the company a “hold” rating in a research note on Wednesday, February 22nd. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $84.84.

Analyst Recommendations for TJX Companies (NYSE:TJX)

Shares of TJX Companies (NYSE:TJX) opened at 79.22 on Thursday. The firm has a 50-day moving average price of $77.22 and a 200-day moving average price of $76.05. TJX Companies has a 52 week low of $71.50 and a 52 week high of $83.64. The firm has a market cap of $52.08 billion, a PE ratio of 22.90 and a beta of 0.70.

TJX Companies (NYSE:TJX) last released its earnings results on Wednesday, February 22nd. The apparel and home fashions retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.03. TJX Companies had a return on equity of 53.12% and a net margin of 7.00%. The company earned $9.50 billion during the quarter, compared to analyst estimates of $9.45 billion. During the same quarter in the previous year, the company posted $0.99 EPS. TJX Companies’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that TJX Companies will post $3.91 earnings per share for the current year.

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In related news, EVP Michael Macmillan sold 21,180 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $78.50, for a total value of $1,662,630.00. Following the transaction, the executive vice president now directly owns 148,820 shares of the company’s stock, valued at approximately $11,682,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Financial Bank N.A. Trust Division increased its stake in shares of TJX Companies by 4.3% in the third quarter. First Financial Bank N.A. Trust Division now owns 57,841 shares of the apparel and home fashions retailer’s stock valued at $4,326,000 after buying an additional 2,373 shares during the last quarter. Reilly Herbert Faulkner III boosted its stake in shares of TJX Companies by 2.0% in the third quarter. Reilly Herbert Faulkner III now owns 55,294 shares of the apparel and home fashions retailer’s stock valued at $4,135,000 after buying an additional 1,094 shares during the period. Naples Global Advisors LLC boosted its stake in shares of TJX Companies by 7.7% in the third quarter. Naples Global Advisors LLC now owns 3,039 shares of the apparel and home fashions retailer’s stock valued at $227,000 after buying an additional 218 shares during the period. Advisory Services Network LLC boosted its stake in shares of TJX Companies by 10.6% in the third quarter. Advisory Services Network LLC now owns 6,989 shares of the apparel and home fashions retailer’s stock valued at $523,000 after buying an additional 668 shares during the period. Finally, Oliver Luxxe Assets LLC boosted its stake in shares of TJX Companies by 6.3% in the third quarter. Oliver Luxxe Assets LLC now owns 16,552 shares of the apparel and home fashions retailer’s stock valued at $1,238,000 after buying an additional 988 shares during the period. 87.65% of the stock is currently owned by institutional investors.

About TJX Companies

The TJX Companies, Inc (TJX) is an off-price apparel and home fashions retailer in the United States and across the world. The Company operates through four segments: Marmaxx, HomeGoods, TJX Canada and TJX International. T.J. Maxx and Marshalls chains in the United States are collectively the off-price retailer in the United States with a total of approximately 2,163 stores.

5 Day Chart for NYSE:TJX

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