Why Has BB&T Capital Mkts Given TJX (NYSE:TJX) a $86 Price Target
BB&T Capital Mkts has just issued a Buy rating for TJX (NYSE:TJX) shares. The firm started coverage on shares of TJX in analysts report distributed to Clients on 17 December. This target PPS could mean upside of 20.26% from the last stock close price of TJX (NYSE:TJX).
From a total of 23 analysts covering The TJX Companies (NYSE:TJX) stock, 21 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 70% of the ratings are positive. The highest target price is $90 while the lowest target price is $68. The mean of all analyst targets is $80.09 with a 15.37% above today’s ($71.51) stock price. The TJX Companies was the topic of 17 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets initiated shares on November 6 with “Outperform” rating. Telsey Advisory Group maintained shares with “Market Perform” rating and $82 target share price in a report from an August 19. Citigroup initiated TJX stock in a recent report from October 7 with “Buy” rating. UBS maintained the rating on August 19. UBS has a “Buy” rating and a $85 price target on shares. Finally, Stifel Nicolaus maintained the stock with “Buy” rating in a report issued on an August 18.
Approximately 75,808 shares of stock traded hands. TJX Companies Inc (NYSE:TJX) has risen 9.43% since May 14, 2015 and is uptrending. It has outperformed by 11.69% the S&P500.
The overall sentiment of institutions has increased to 1.36 in Q2 2015. Its up 0.28, from 1.08 in 2015Q2. The ratio improved, as 34 institutions have sold all the shares of TJX Companies Inc that they owned while 312 funds have taken shares off the table. 95 funds have purchased shares for the first time while 375 added to their positions. These institutions now hold 546.21 million shares or 7.03% less than the 587.49 million shares they owned in 2015Q2.
The Fund Alecta Pensionsforsakring Omsesidigt currently is holding shares equating to 10.38% of its total portfolio in TJX Companies Inc representing a total of 12.14 million shares. Another fund,Horseman Capital Management Ltd, is holding a total of 527,200 shares equating to 9.57% of their holdings. Additionally, Dock Street Asset Management Inc has a 166,019 share stake in TJX Companies Inc which represents 9.14% of their total portfolio. The Fund, General American Investors Co Inc, based out of New York, has also built up a stake in the stock, which represents a total of 8.01% of their total portfolio. Finally Provident Trust Co, a fund which is based in the state of Wisconsin reported a total holdings of 1.84 million shares.
The TJX Companies, Inc. is an off-price apparel and home fashions. The company has a market cap of $47.88 billion. The Firm operates through four divisions: Marmaxx, HomeGoods, TJX Canada and TJX Europe. It has 21.79 P/E ratio. The Marmaxx and HomeGoods business offers family apparel, home fashions, accent furniture, lamps, rugs, wall decor, decorative accessories and giftware and other merchandise.
According to Zacks Investment Research, “The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates T.J. Maxx, Marshalls, and HomeGoods stores in the United States, Winners, HomeSense, Marshalls, and STYLESENSE stores in Canada, and T.K. Maxx and HomeSense stores in Europe. The TJX Companies, Inc. is headquartered in Framingham, Massachusetts.”