TJX Companies (NYSE:TJX) Coverage Initiated by Analysts at Truist Financial

Key Points

• Truist Financial initiated coverage on TJX Companies with a buy rating and a $175 price target, implying about 18.7% upside from the prior close.
• Other analysts have also been constructive on the stock, with several raising targets or ratings; MarketBeat says TJX now has a consensus Buy rating and an average price target of $167.90.
• TJX reported strong quarterly results, topping earnings and revenue estimates, while revenue rose 8.5% year over year and management issued guidance for future EPS growth.

Investment analysts at Truist Financial initiated coverage on shares of TJX Companies (NYSE:TJX - Get Free Report) in a research report issued on Monday,Benzinga reports. The brokerage set a "buy" rating and a $175.00 price target on the apparel and home fashions retailer's stock. Truist Financial's target price points to a potential upside of 18.72% from the stock's previous close.

A number of other research analysts also recently issued reports on the stock. Telsey Advisory Group lifted their price target on shares of TJX Companies from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, February 26th. Wall Street Zen raised TJX Companies from a "hold" rating to a "buy" rating in a report on Saturday, March 28th. BTIG Research reaffirmed a "buy" rating and set a $185.00 price target (up from $165.00) on shares of TJX Companies in a report on Thursday, February 26th. UBS Group restated a "buy" rating on shares of TJX Companies in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of TJX Companies from $154.00 to $173.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Strong Buy rating and twenty-three have given a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $167.90.

TJX Companies Trading Down 0.0%

Shares of TJX Companies stock opened at $147.40 on Monday. The firm has a market capitalization of $163.00 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.39 and a beta of 0.64. TJX Companies has a fifty-two week low of $119.84 and a fifty-two week high of $165.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 1.14. The stock has a 50 day moving average of $157.08 and a 200 day moving average of $154.21.

TJX Companies (NYSE:TJX - Get Free Report) last announced its earnings results on Wednesday, February 25th. The apparel and home fashions retailer reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.05. The company had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.36 billion. TJX Companies had a net margin of 9.10% and a return on equity of 57.70%. TJX Companies's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. TJX Companies has set its FY 2027 guidance at 4.930-5.020 EPS and its Q1 2027 guidance at 0.970-0.990 EPS. As a group, research analysts predict that TJX Companies will post 5.06 earnings per share for the current year.

Insiders Place Their Bets

In other TJX Companies news, CEO Ernie Herrman sold 30,000 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $160.95, for a total transaction of $4,828,500.00. Following the completion of the transaction, the chief executive officer owned 479,316 shares of the company's stock, valued at approximately $77,145,910.20. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On TJX Companies

Several hedge funds have recently bought and sold shares of TJX. Vanguard Group Inc. raised its position in shares of TJX Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 102,733,668 shares of the apparel and home fashions retailer's stock valued at $15,780,919,000 after buying an additional 771,882 shares during the last quarter. Geode Capital Management LLC raised its position in shares of TJX Companies by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,104 shares of the apparel and home fashions retailer's stock valued at $4,134,174,000 after buying an additional 673,690 shares during the last quarter. Bank of America Corp DE raised its position in shares of TJX Companies by 2.0% in the fourth quarter. Bank of America Corp DE now owns 25,620,925 shares of the apparel and home fashions retailer's stock valued at $3,935,630,000 after buying an additional 495,989 shares during the last quarter. Capital International Investors raised its position in shares of TJX Companies by 2.0% in the fourth quarter. Capital International Investors now owns 15,986,573 shares of the apparel and home fashions retailer's stock valued at $2,455,911,000 after buying an additional 308,408 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of TJX Companies in the fourth quarter valued at approximately $2,211,975,000. Hedge funds and other institutional investors own 91.09% of the company's stock.

About TJX Companies

TJX Companies, Inc is a leading off-price retailer of apparel, footwear, home fashions and other consumer goods. The company operates multiple retail concepts that offer discounted brand-name and designer merchandise, including well-known banners such as T.J. Maxx and Marshalls in the United States, HomeGoods for home furnishings, TK Maxx in parts of Europe, and Winners and Homesense in Canada. Merchandise categories span women's, men's and children's apparel, accessories, beauty, home décor, kitchenware and small furniture, with frequent changes in assortment that create a “treasure-hunt” shopping experience for consumers.

The company's business model centers on opportunistic buying, purchasing excess, irregular or out-of-season inventory from manufacturers, department stores and other suppliers, and passing savings to customers through lower prices.

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