Guggenheim Reaffirms Their Buy Rating on TJX Companies (TJX)

In a report released today, Robert Drbul from Guggenheim maintained a Buy rating on TJX Companies (TJXResearch Report), with a price target of $60. The company’s shares opened today at $53.26.

Drbul commented:

“We remain encouraged by the strong top-line, and while we remain cognizant of cost headwinds facing the business (wages and freight), we continue to believe TJX is one of the best positioned retailers in our group. We remain BUY-rated and raise our PT to $60 (from $57). TJX’s strong 1Q19 was driven by a robust, traffic-driven top-line result (5% comp), led by Marmaxx (6% vs. our +4% est). On a two-year stack basis, the Marmaxx comp remained quite strong at +10%. HomeGoods reported a 1% comp increase, below our +3% estimate, impacted in part by unfavorable weather in the quarter. We are encouraged by the continued momentum in Marmaxx, led by traffic (again the main driver of the comp) and strength across home and apparel. Outside the U.S., comp sales growth was flat in Canada (vs.”

According to, Drbul is a 5-star analyst with an average return of 10.1% and a 65.8% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Ascena Retail Group, and Ralph Lauren Corp.

TJX Companies has an analyst consensus of Moderate Buy, with a price target consensus of $57.09, representing a 7.2% upside. In a report issued on May 13, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $63 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $56.64 and a one-year low of $41.49. Currently, TJX Companies has an average volume of 5.7M.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Kenneth Canestrari, the SEVP – Group President of TJX sold 31,920 shares for a total of $1,697,186.

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.