Citigroup Increases TJX Companies (TJX) Price Target to $62.50

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TJX Companies (NYSE:TJX) had its price target lifted by Citigroup from $55.50 to $62.50 in a research note published on Tuesday, October 16th, Marketbeat Ratings reports. The brokerage currently has a buy rating on the apparel and home fashions retailer’s stock.

A number of other equities research analysts also recently issued reports on the stock. Goldman Sachs Group started coverage on shares of TJX Companies in a research note on Monday, September 3rd. They set a buy rating and a $63.00 price objective on the stock. Deutsche Bank increased their price objective on shares of TJX Companies from $50.00 to $52.50 and gave the stock a buy rating in a research note on Monday, August 20th. Zacks Investment Research upgraded shares of TJX Companies from a hold rating to a buy rating and set a $54.50 price objective on the stock in a research note on Tuesday, July 24th. Telsey Advisory Group raised their price target on shares of TJX Companies from $46.00 to $55.00 and gave the company a market perform rating in a research note on Wednesday, August 22nd. Finally, Cowen set a $62.50 price target on shares of TJX Companies and gave the company a buy rating in a research note on Tuesday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $54.08.

NYSE:TJX traded up $0.10 during mid-day trading on Tuesday, reaching $55.64. 6,528,833 shares of the company’s stock were exchanged, compared to its average volume of 7,993,962. TJX Companies has a one year low of $33.22 and a one year high of $56.64. The firm has a market cap of $68.58 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 2.06 and a beta of 0.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.77 and a current ratio of 1.64.

TJX Companies (NYSE:TJX) last released its quarterly earnings results on Tuesday, August 21st. The apparel and home fashions retailer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. TJX Companies had a net margin of 7.88% and a return on equity of 58.66%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period last year, the firm earned $0.43 earnings per share. TJX Companies’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that TJX Companies will post 2.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.56 annualized dividend and a yield of 2.80%. TJX Companies’s dividend payout ratio is presently 38.61%.

A number of large investors have recently bought and sold shares of TJX. Moody Aldrich Partners LLC bought a new position in TJX Companies during the 2nd quarter worth approximately $57,774,000. Atlas Capital Advisors LLC bought a new position in TJX Companies during the 3rd quarter worth approximately $107,000. LFA Lugano Financial Advisors SA bought a new position in TJX Companies during the 3rd quarter worth approximately $114,000. Patriot Financial Group Insurance Agency LLC bought a new position in TJX Companies during the 3rd quarter worth approximately $115,000. Finally, Cornerstone Advisors Inc. raised its holdings in TJX Companies by 280.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,114 shares of the apparel and home fashions retailer’s stock worth $106,000 after purchasing an additional 821 shares during the last quarter. Institutional investors and hedge funds own 90.12% of the company’s stock.

TJX Companies Company Profile

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, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise.

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Analyst Recommendations for TJX Companies (NYSE:TJX)

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