The stock price target for TJX Companies (NYSE:TJX) has been raised from $162.00 to $167.00 by analysts at TD Cowen, reflecting positive expectations for the retailer. This revision was announced in a note to investors on November 19, 2023, and indicates a potential upside of approximately 10.26% from the company’s current trading price.
Analyst Ratings and Market Sentiment
TD Cowen currently maintains a “buy” rating on TJX stock, a sentiment echoed by several other research firms. Macquarie reaffirmed a “buy” rating on August 11, while Telsey Advisory Group upgraded its target price to $170.00, up from $155.00, in a report released earlier this week. Similarly, Morgan Stanley reiterated an “overweight” rating and adjusted its target price to $162.00, up from $159.00. UBS Group also restated a “buy” rating with a price target of $172.00.
Overall, one investment analyst has rated TJX with a Strong Buy, while twenty-three have assigned a Buy rating and one has given a Hold rating. According to MarketBeat.com, TJX Companies holds a consensus rating of “Buy” with an average target price of $158.90.
Recent Financial Performance
TJX stock opened at $151.46 on November 19, with a one-year low of $112.10 and a high of $152.58. The company boasts a strong market capitalization of $168.57 billion, a PE ratio of 34.50, and a beta of 0.90. Recently, TJX reported earnings per share (EPS) of $1.28 for the quarter, surpassing analysts’ expectations of $1.22 by $0.06. Revenue for the quarter reached $15.12 billion, exceeding estimates of $14.80 billion. This marks a 7.5% increase in revenue compared to the same quarter last year.
In terms of financial guidance, the company has projected Q4 2026 EPS between $1.330 and $1.360, with FY 2026 guidance set at $4.630 to $4.660 EPS. Analysts anticipate an EPS of $4.18 for the current fiscal year.
Insider Activity and Institutional Investments
In insider trading news, CEO Ernie Herrman sold 30,000 shares on November 20 for an average price of $148.81, amounting to a total transaction of $4,464,300. Following this transaction, Herrman retains 535,143 shares valued at approximately $79.63 million, indicating a 5.31% reduction in his ownership. Additionally, Director Amy B. Lane sold 500 shares on November 21 for $151.40 per share, totaling $75,700.
Insider transactions in the last ninety days have involved the sale of 54,863 shares, valued at $8.23 million. Currently, corporate insiders own 0.13% of the stock.
Institutional investors and hedge funds have shown considerable interest in TJX, with 91.09% of the company’s stock held by these entities. Recent moves include Brighton Jones LLC increasing its stake by 113.7% in the fourth quarter, acquiring additional shares valued at $1.82 million. Other firms, such as Revolve Wealth Partners LLC and Bison Wealth LLC, have also boosted their holdings significantly.
Overall, the positive outlook from analysts and strong financial results indicate a robust performance for TJX Companies in the near future. Investors will be closely monitoring further developments as the company continues to navigate the retail landscape.
