Morgan Stanley Raises TJX Companies (NYSE:TJX) Price Target to $122.00

TJX Companies (NYSE:TJX) had its target price boosted by equities research analysts at Morgan Stanley from $113.00 to $122.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the apparel and home fashions retailer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 7.01% from the company’s previous close.

TJX has been the subject of several other research reports. Robert W. Baird increased their price target on TJX Companies from $110.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. BMO Capital Markets increased their price target on TJX Companies from $110.00 to $116.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. The Goldman Sachs Group raised TJX Companies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $110.00 in a research note on Thursday, April 25th. Barclays raised their target price on TJX Companies from $109.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, TD Cowen raised their target price on TJX Companies from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $112.67.

TJX Companies Stock Performance

Shares of TJX stock opened at $114.01 on Thursday. The stock has a market cap of $128.85 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.08 and a beta of 0.88. The business has a 50-day simple moving average of $106.85 and a 200-day simple moving average of $100.15. The company has a quick ratio of 0.61, a current ratio of 1.23 and a debt-to-equity ratio of 0.38. TJX Companies has a 52-week low of $84.56 and a 52-week high of $115.35.

TJX Companies (NYSE:TJX) last posted its quarterly earnings data on Wednesday, May 22nd. The apparel and home fashions retailer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06. TJX Companies had a return on equity of 64.26% and a net margin of 8.47%. The company had revenue of $12.48 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same period in the previous year, the business earned $0.76 EPS. TJX Companies’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that TJX Companies will post 4.09 EPS for the current year.

Insider Transactions at TJX Companies

In related news, Director Amy B. Lane sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $102.07, for a total value of $153,105.00. Following the transaction, the director now owns 23,470 shares in the company, valued at approximately $2,395,582.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TJX Companies news, Director Amy B. Lane sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $102.07, for a total transaction of $153,105.00. Following the transaction, the director now owns 23,470 shares in the company, valued at approximately $2,395,582.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Louise Greenlees sold 8,171 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $101.73, for a total value of $831,235.83. Following the transaction, the executive vice president now owns 49,570 shares in the company, valued at approximately $5,042,756.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,003 shares of company stock worth $5,060,941. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On TJX Companies

Several institutional investors have recently modified their holdings of the company. Aprio Wealth Management LLC lifted its stake in TJX Companies by 4.8% in the 2nd quarter. Aprio Wealth Management LLC now owns 2,176 shares of the apparel and home fashions retailer’s stock valued at $240,000 after buying an additional 99 shares in the last quarter. Mcdonald Partners LLC lifted its stake in TJX Companies by 4.4% in the 2nd quarter. Mcdonald Partners LLC now owns 2,344 shares of the apparel and home fashions retailer’s stock valued at $258,000 after buying an additional 99 shares in the last quarter. Manhattan West Asset Management LLC lifted its stake in TJX Companies by 0.4% in the 1st quarter. Manhattan West Asset Management LLC now owns 24,670 shares of the apparel and home fashions retailer’s stock valued at $2,502,000 after buying an additional 103 shares in the last quarter. Quantum Financial Advisors LLC lifted its stake in shares of TJX Companies by 5.1% during the 2nd quarter. Quantum Financial Advisors LLC now owns 2,109 shares of the apparel and home fashions retailer’s stock worth $232,000 after purchasing an additional 103 shares during the period. Finally, Bedel Financial Consulting Inc. lifted its stake in shares of TJX Companies by 3.4% during the 4th quarter. Bedel Financial Consulting Inc. now owns 3,190 shares of the apparel and home fashions retailer’s stock worth $299,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors 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.