Deutsche Bank Boosts TJX Companies (TJX) Price Target to $95.00
TJX Companies (NYSE:TJX) had its price target increased by equities research analysts at Deutsche Bank from $86.00 to $95.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the apparel and home fashions retailer’s stock. Deutsche Bank’s target price would suggest a potential upside of 13.57% from the company’s current price.
A number of other research analysts have also commented on TJX. SunTrust Banks set a $98.00 target price on TJX Companies and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets set a $94.00 price target on TJX Companies and gave the company a “buy” rating in a research report on Thursday. Cowen set a $92.00 price target on TJX Companies and gave the company a “buy” rating in a research report on Thursday. Nomura set a $87.00 price target on TJX Companies and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada set a $91.00 price target on TJX Companies and gave the company a “buy” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. TJX Companies currently has a consensus rating of “Buy” and an average price target of $86.89.
TJX Companies (TJX) opened at $83.65 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.66 and a quick ratio of 0.67. The company has a market capitalization of $52,379.94, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.60 and a beta of 0.68. TJX Companies has a 12 month low of $66.44 and a 12 month high of $84.79.
TJX Companies announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 28th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the apparel and home fashions retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, CEO Ernie Herrman sold 11,000 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $83.64, for a total transaction of $920,040.00. Following the sale, the chief executive officer now owns 454,821 shares in the company, valued at $38,041,228.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane sold 1,000 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $82.81, for a total value of $82,810.00. Following the sale, the director now owns 15,998 shares in the company, valued at approximately $1,324,794.38. The disclosure for this sale can be found here. Insiders have sold 55,020 shares of company stock worth $4,606,635 in the last 90 days. Company insiders own 0.23% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Zions Bancorporation grew its holdings in shares of TJX Companies by 185.9% during the third quarter. Zions Bancorporation now owns 1,358 shares of the apparel and home fashions retailer’s stock worth $100,000 after purchasing an additional 883 shares during the last quarter. Farmers National Bank bought a new position in TJX Companies in the fourth quarter valued at about $106,000. Icon Wealth Partners LLC bought a new position in TJX Companies in the fourth quarter valued at about $109,000. Truewealth LLC bought a new position in TJX Companies in the fourth quarter valued at about $119,000. Finally, Assetmark Inc. boosted its holdings in TJX Companies by 50.3% in the fourth quarter. Assetmark Inc. now owns 1,983 shares of the apparel and home fashions retailer’s stock valued at $152,000 after acquiring an additional 664 shares during the last quarter. Institutional investors own 89.67% of the company’s stock.
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TJX Companies Company Profile
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 were collectively the off-price retailer in the United States with a total of 2,221 stores, as of January 28, 2017.
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