TJX Companies Receives a Buy from BMO Capital

By Jason Carr

BMO Capital analyst John Morris reiterated a Buy rating on TJX Companies (NYSE: TJX) yesterday and set a price target of $85. The company’s shares closed yesterday at $73.49.

According to TipRanks.com, Morris is a 2-star analyst with an average return of 0.9% and a 48.0% success rate. Morris covers the Services sector, focusing on stocks such as Duluth Holdings Inc, Abercrombie Fitch, and Burlington Stores.

Currently, the analyst consensus on TJX Companies is Strong Buy and the average price target is $82.86, representing a 12.8% upside.

In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $86 price target.

Based on TJX Companies’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $7.88 billion and quarterly net profit of $562 million. In comparison, last year the company earned revenue of $7.75 billion and had a net profit of $587 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2016, Carol Meyrowitz, the Chairman & CEO – TJX of TJX sold 127,929 shares for a total of $9,754,690.

The TJX Cos., Inc. operates as an off-price apparel and home fashions retailer in the United States and worldwide. It operates through the following segments: Marmaxx, HomeGoods, TJX Canada, and TJX Europe. The Marmaxx segment sells family apparel including footwear and accessories, home fashions including home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, and other merchandise. The HomeGoods segment offers home basics, giftware, accent furniture, lamps, rugs, wall décor, and decorative accessories. The TJX Canada segment operates the Winners, Marshalls, and HomeSense chains in Canada. The TJX Europe segment operates T.K. Maxx and HomeSense chains in Europe. The company was founded by Stanley Harris Feldberg and Sumner L. Feldberg in 1956 and is headquartered in Framingham, MA.