TJX Companies (NYSE:TJX) Rating Increased to Strong-Buy at Daiwa America

TJX Companies (NYSE:TJX - Get Free Report) was upgraded by investment analysts at Daiwa America to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Daiwa Capital Markets started coverage on TJX Companies in a research report on Tuesday. They set an "outperform" rating and a $133.00 price target on the stock. JPMorgan Chase & Co. increased their price target on TJX Companies from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Telsey Advisory Group reissued an "outperform" rating and set a $145.00 price target on shares of TJX Companies in a research report on Wednesday, May 21st. Cowen reissued a "buy" rating on shares of TJX Companies in a research report on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $147.00 target price (up previously from $137.00) on shares of TJX Companies in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $141.06.

TJX Companies Stock Performance

Shares of NYSE TJX traded down $0.47 during trading hours on Tuesday, reaching $123.69. 4,145,943 shares of the stock were exchanged, compared to its average volume of 5,208,034. The firm has a market capitalization of $138.17 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 2.89 and a beta of 0.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.51 and a current ratio of 1.16. TJX Companies has a 52 week low of $107.71 and a 52 week high of $135.85. The stock's fifty day simple moving average is $126.82 and its 200 day simple moving average is $124.13.

TJX Companies (NYSE:TJX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The apparel and home fashions retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $13.11 billion for the quarter, compared to the consensus estimate of $13.01 billion. TJX Companies had a return on equity of 58.81% and a net margin of 8.47%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. Sell-side analysts predict that TJX Companies will post 4.18 EPS for the current year.

Insider Buying and Selling at TJX Companies

In related news, Director Amy B. Lane sold 950 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $128.09, for a total transaction of $121,685.50. Following the sale, the director owned 22,712 shares of the company's stock, valued at $2,909,180.08. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TJX Companies

Several hedge funds have recently modified their holdings of TJX. Petredis Investment Advisors LLC lifted its holdings in TJX Companies by 1.4% during the 2nd quarter. Petredis Investment Advisors LLC now owns 55,982 shares of the apparel and home fashions retailer's stock worth $6,913,000 after buying an additional 752 shares during the period. Arthur M. Cohen & Associates LLC lifted its holdings in TJX Companies by 6.2% during the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 2,734 shares of the apparel and home fashions retailer's stock worth $338,000 after buying an additional 160 shares during the period. BTC Capital Management Inc. lifted its holdings in TJX Companies by 12.3% during the 2nd quarter. BTC Capital Management Inc. now owns 103,404 shares of the apparel and home fashions retailer's stock worth $12,687,000 after buying an additional 11,311 shares during the period. Orrstown Financial Services Inc. lifted its holdings in TJX Companies by 5.7% during the 2nd quarter. Orrstown Financial Services Inc. now owns 13,015 shares of the apparel and home fashions retailer's stock worth $1,607,000 after buying an additional 699 shares during the period. Finally, Deane Retirement Strategies Inc. lifted its holdings in TJX Companies by 1.4% during the 2nd quarter. Deane Retirement Strategies Inc. now owns 32,144 shares of the apparel and home fashions retailer's stock worth $3,969,000 after buying an additional 450 shares during the period. Institutional investors and hedge funds 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.