Nomura Sticks to Their Buy Rating for TJX Companies (TJX)

By Jason Carr

In a report released today, Michael Baker from Nomura maintained a Buy rating on TJX Companies (TJXResearch Report), with a price target of $60.00. The company’s shares closed last Friday at $54.21.

According to TipRanks.com, Baker is a 4-star analyst with an average return of 4.5% and a 59.6% success rate. Baker covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, Dick’s Sporting Goods, and Advance Auto Parts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TJX Companies with a $63.15 average price target, which is a 17.3% upside from current levels. In a report issued on May 15, CFRA also maintained a Buy rating on the stock with a $60.00 price target.

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Based on TJX Companies’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $12.21 billion and net profit of $985 million. In comparison, last year the company earned revenue of $11.13 billion and had a net profit of $842 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TJX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The TJX Cos., Inc. engages in the retail of off-price apparel and home fashion products. It operates through the following segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The Marmaxx segment sells family apparel including footwear and accessories; and home fashions including home basics, decorative accessories, giftware, and other merchandise. The HomeGoods segment offers an assortment of home fashions, including furniture, rugs, lighting, soft home, decorative accessories, tabletop and cookware as well as expanded pet, kids and gourmet food departments. The TJX Canada segment operates the Winners, Marshalls, and HomeSense chains in Canada. The TJX International segment includes the T.K. Maxx and HomeSense chains in Europe, and T.K. Maxx chain in Australia. The company was founded by Stanley Harris Feldberg and Sumner L. Feldberg in 1956 and is headquartered in Framingham, MA.