TJX Companies (NYSE:TJX) has seen a significant boost in its stock price forecast, with analysts at TD Cowen raising their target price from $162.00 to $167.00. This adjustment, made on November 19, 2023, suggests a potential upside of 10.26% from the company’s current trading position, which reflects the positive sentiment surrounding the apparel and home fashions retailer.
The news follows a series of favorable reports from various research firms. Macquarie reaffirmed its “buy” rating on August 11, while Telsey Advisory Group raised its target price to $170.00 from $155.00. Morgan Stanley also increased its target price to $162.00, previously set at $159.00. Additionally, UBS Group maintained a “buy” rating with a target of $172.00. According to MarketBeat.com, overall, the consensus rating for TJX Companies stands at “buy,” with an average target price of $158.90.
Stock Performance and Financial Insights
On the trading day following the announcement, TJX stock opened at $151.46. Over the past year, shares have experienced a low of $112.10 and a high of $152.58. The company boasts a market capitalization of $168.57 billion, alongside a price-to-earnings (PE) ratio of 34.50 and a debt-to-equity ratio of 0.32.
In its latest financial report, TJX Companies disclosed earnings per share of $1.28 for the quarter ending November 19, outperforming analyst estimates of $1.22 by $0.06. Revenue reached $15.12 billion, exceeding the anticipated $14.80 billion. Notably, the company’s revenue grew by 7.5% compared to the same quarter last year, indicating a robust performance in a competitive market.
The firm provided guidance for Q4 2026, projecting earnings per share between $1.330 and $1.360, and full-year 2026 guidance in the range of $4.630 to $4.660. Analysts forecast earnings per share of $4.18 for the current fiscal year.
Insider Transactions and Institutional Investments
In related news, CEO Ernie Herrman sold 30,000 shares of TJX stock on November 20, with the shares priced at an average of $148.81, totaling approximately $4.46 million. Following this transaction, Herrman retains 535,143 shares, valued at around $79.63 million. This sale represents a 5.31% reduction in his ownership stake.
Director Amy B. Lane also sold 500 shares at an average price of $151.40 on November 21, resulting in a total value of $75,700. After the sale, Lane owns 22,212 shares, worth approximately $3.36 million, marking a 2.20% decrease in her ownership.
Insider trading activity has shown that a total of 54,863 shares, valued at $8.23 million, have been sold in the last ninety days, with corporate insiders currently holding 0.13% of the company’s stock.
Recent activity among hedge funds has also contributed to the dynamics surrounding TJX Companies. Brighton Jones LLC increased its stake by 113.7% in the last quarter, acquiring an additional 8,002 shares and bringing its total to 15,039 shares, valued at $1.82 million. Other firms such as Revolve Wealth Partners LLC and Bison Wealth LLC have similarly bolstered their positions, reflecting ongoing confidence in TJX’s market performance.
As TJX Companies continues to navigate the retail landscape, the combination of positive analyst ratings, robust earnings, and active engagement from both insiders and institutional investors indicates a promising outlook for the company’s future.